News Articles for Crown Resorts

James Packer is not to blame for the failures of Crown Resorts, his lawyers have told an inquiry into whether the gaming giant is suitable to run a new Sydney casino.

Crown Resorts was ignorant or apathetic to money laundering risks, an inquiry into the company's suitability to run a new $2.2 billion casino has heard.

An inquiry by the NSW gaming regulator has heard Crown Resorts is not suitable to hold the licence for a soon-to-be-open $2.2 billion casino in Sydney.

Telethon 2020 raised a record $46.3m for the Channel 7 Telethon Trust over the weekend, with 14 donors contributing the lion's share of the money.

Crown Resorts has apologised to shareholders for governance and risk management failures unearthed by a NSW inquiry, while an investor revolt prompted a director to resign.

Crown Resorts chair Helen Coonan has questioned the work of three of her top executives as she sought to defend the gaming company's board over its own performance.

Australia's anti-money laundering agency has launched a formal investigation into Crown Resorts, which also revealed top executive Barry Felstead has been made redundant.

Controversial billionaire businessman Stanley Ho was meant to have no involvement in Crown Resorts or its proposed new Sydney casino.

Billionaire James Packer agrees he engaged in shameful and disgraceful conduct by threatening a businessman over a proposal to privatise Crown Resorts.

John Poynton has said it was not his responsibility to inform Crown Resort's board of James Packer's intention to sell his stake in the company to now-deceased billionaire Stanley Ho.

Revenue at Perth's Crown Casino fell by more than $140 million in the past financial year after the venue was forced to close for three months because of COVID-19, while the number of visitors also fell by 2 million.

Corporate adviser John Poynton is back looking for deals after setting up a new firm with investment banker Chris Stavrianou.

Thursday night's match between the West Coast Eagles and Richmond Tigers has been postponed, as part of several changes made to round five of the 2020 AFL season.

One of Western Australia's biggest employers, Crown Resorts, has stood down 95 per cent of its national workforce due to coronavirus restrictions affecting its casinos and hospitality venues in Perth and Melbourne.

SPECIAL REPORT: Several big businesses have stepped up to the plate during the current economic shock.

Hospitality businesses are making difficult decisions about whether to stay open and offer takeaway options or close.

In a single month, the entire tourism industry has been turned on its head, with operators big and small subject to a harsh new reality.

WA's confirmed COVID-19 cases jumped by 20 overnight to 140. Premier Mark McGowan warned not enough people were adhering to social distancing rules. WA will go into border lockdown tomorrow while cafes, restaurants and bars were restricted to takeaway services only at 12pm today.

Nine Entertainment, BlueScope Steel and more companies have joined the flood of listed firms cancelling their earnings forecasts as coronavirus chaos spreads.

The Australian Hotels Association WA has made a number of recommendations for the state's hospitality sector to reduce the spreading of COVID-19, with Crown Resorts in Perth extending its social distancing measures to Perth.

Crown Resorts has posted net profit of $173 million for the year to December 2019, an 11 per cent drop on the previous period that chief executive Ken Barton attributed to mixed trading conditions across various arms of the business.

The federal government has announced a $50 million emergency fund to address the loss of wildlife during the nation's bushfire season, as more Australian businesses have pledged millions in combined donations.

Andrew and Nicola Forrest's Minderoo Foundation has committed $70 million to Australia's bushfire response, far exceeding the contributions made by big companies across the country.

The state government has set a target for employing people with disabilities in the public sector, aiming to reach 5 per cent representation by the end of 2025. Click here to read Business News' Inclusive Workplaces special report about employing people with disabilities.

Crown Resorts' full-year profit has fallen 4.7 per cent to $368.6 million, with revenue from floor gaming down in Perth and reduced VIP revenue across Australia.

Crown Resorts' Barry Felstead and ABN Group's Andrew Roberts are among the top five fundraisers this year for Vinnie's CEO Sleepout, raising more than $130,000 each to help break the cycle of homelessness.

Tim Roberts, whose estimated net worth varied wildly in three recent rich lists, has stepped away from the public limelight by resigning from the board of ASX-listed Mineral Resources.

James Packer has sold a $1.76 billion stake in Crown Resorts to Hong Kong-based Melco Resorts & Entertainment.

Wynn Resorts has abruptly ended talks over its $10 billion takeover proposal for Crown Resorts, blaming the Australian casino operator for revealing the potential deal too early.

Crown Resorts shares have soared after the casino operator confirmed talks with Wynn Resorts over a $10 billion cash-and-scrip takeover proposal by the Las Vegas gambling giant.

ANNIVERSARY SPECIAL: The annual Business News Biggest Employers survey has tracked changing employment patterns in WA over 13 years. This article is part of a special series to mark Business News' 25-year anniversary.

The Channel 7 Telethon Trust achieved another fundraising record over the weekend, raising $38 million for medical research, but its success has not been shared across the charity sector, with Variety WA's Carols by Candlelight the latest of several events to be cancelled due to a lack of financial support.

Growing investment in rooftop bars across Perth reflects a need to offer a point of difference in what has been a tough market, publicans say.

Crown Perth posted a slight increase in normalised earnings for the 2018 financial year, helped by added revenue from Crown Towers, while its parent company reported a full-year profit of $558.9 million.

West Perth-based Amristar Solutions has secured a $4.5 million state government contract for ICT services, while ASX-listed Cirrus Networks has been awarded a $2.5 million contract to manage data services for Crown Resorts.

Sixty-three Perth business leaders slept rough last night for the Vinnies CEO Sleepout, raising about $513,000 to go towards alleviating homelessness.

Vinnies CEO Sleepout is fast approaching and Perth's business leaders are calling for support to help them reach their goals.

Perth-based John Poynton has been appointed as a non-executive director of Crown Resorts, replacing billionaire James Packer.

Saracen Mineral Holdings managing director Raleigh Finlayson has received the top honour at Business News' 2018 40under40 awards, named First Amongst Equals ahead of a diverse field of Western Australia's young business and community leaders.

Crown Resorts has posted a $192.4 million net profit for the half year, with earnings at the Perth arm of the company down on the previous year.