As the damaging report about the regulatory shortcoming of Australia’s Crown Casino has been spreading much fallout, the CEO of the casino is purportedly losing his chair.
According to a news published by the Australian Media last Thursday, Ken Barton, CEO of Crown Resorts, had agreed to renounce his post. He has decided to abdicate the post in the imminent meeting with the current chairman Helen Coonan. Barton has been being forced to take the decision and act accordingly since a disturbing regulatory report came to light for the first time. The report, showing numerous on-point evidence, concluded Crown Resort’s unsuitability to achieve and retain a gaming license at its New South Wales’ venue Crown Sydney.
The inquiry of the NSW Independent Liquor & Gaming Authority (ILGA) made Barton’s appearance disastrous last September. After that, he hadn’t many options to choose from. The inquiry came to know that Barton was heedless about the casino’s internal reports of questionable transactions in different financial accounts set up. Such carelessness was to let the casino’s door open for the VIP gamblers so that they could funnel money to the casino.
Directors Accord on The Exist
Crown’s director Andrew Demetriou resigned last Thursday signaling that Barton’s time is approaching. Demetriou had also been found inept in his given testimony in October. ILGA’s report stated that the regulator should be careful before giving Demetrious further responsibility.
Demetriou, in his given statement, told that his instant resignation was to provide the Sydney casino with enough boost to introduce changes to gain a suitable recommendation. However, Demetriou opposed the ILGA report first addressing its remark on him as unjust and unfair.
Apart from Barton and Demetriou, Crown Casino has lost two more of its directors-one is Guy Jalland and the other one is Michael Johnson. Both of them had to resign immediately after the release of the ILGA’s report.
A negotiation had been placed between Crown and ILGA which had gone immediately underway. Many are now thinking that returning back to having total credibility to be found suitable to conduct actions in NSW might ever not happen for Crown Casino.