James Packer cuts ties with Crown Casino

James Packer cuts ties with Crown Casino

James Packer’s private company has cut ties with the Crown board, paving a possible route for the embattled gaming giant to acquire a casino license for the $2.2bn Sydney Barangaroo complex by April.

In a shocking statement on Wednesday afternoon, Crown confirmed John Poynton’s consultancy agreement with Mr Packer’s private company Consolidated Press Holdings (CPH) was terminated, effectively eliminating all influence by the billionaire within the provider’s board.

It comes after two sudden resignations from CPH lieutenants Guy Jalland and Michael Johnston after a damning probe to the business that said it wasn’t appropriate to hold a gaming licence in NSW.

Mr Crawford said Crown would want to”blow itself up” to satisfy the NSW licensing requirements, together with significant changes to the board and senior management needing to happen.

Finance Lifestyle