Saturday, February 27, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

Crown CEO Ken Barton Quits After Scathing Casino Report

2 weeks ago
in Private
2 min read
Crown CEO Ken Barton Quits After Scathing Casino Report
Share on FacebookShare on Twitter


The Crown Resorts Barangaroo South luxury hotel resort and One Barangaroo Crown residences development in Sydney, on Feb. 10.

The Crown Resorts Barangaroo South luxury hotel resort and One Barangaroo Crown residences development in Sydney, on Feb. 10.

Photographer: Brendon Thorne/Bloomberg

Photographer: Brendon Thorne/Bloomberg

Crown Resorts Ltd. Chief Executive Officer Ken Barton stepped down, bowing to days of pressure after a scathing regulatory report found the Australian casino operator facilitated money laundering and wasn’t fit to hold a license in Sydney.

Related articles

ICE investigators used a private utility database covering millions to pursue

ICE investigators used a private utility database covering millions to pursue

February 27, 2021
Argo Blockchain Installs 4,500 Crypto Mining Machines From Celsius Network

Argo Blockchain Installs 4,500 Crypto Mining Machines From Celsius Network

February 26, 2021

Barton will leave immediately, Melbourne-based Crown said in a statement Monday. Helen Coonan will lead the company as executive chairman while the board oversees a search for a new CEO.

The report last week by former judge Patricia Bergin was particularly critical of Barton, saying he didn’t have the skills for the job. His departure leaves Coonan to find a path out of a crisis that has left Australia’s largest casino company also facing regulatory pressure at its main operations in Melbourne and Perth.

“The board is determined to maintain the momentum as Crown takes significant steps to improve our governance, compliance and culture,” Coonan said. “I will continue to lead on implementation of Crown’s ambitious reform program.”

Crown shares rose 1.1% to A$10.00 in early trading in Sydney, valuing the company at A$6.8 billion ($5.3 billion).

After a year-long inquiry for the state gaming watchdog in New South Wales, Bergin recommended an overhaul of Crown before the company could start gaming operations at its new A$2.2 billion Sydney casino. The New South Wales gaming regulator, the Independent Liquor and Gaming Authority, is due to consider the report at a board meeting on Feb. 17.

Barton “is no match for what is needed at the helm of a casino licensee,” Bergin wrote. Barton clung on and as recently as Friday was still assessing his position. He became CEO of Crown in early 2020 after a decade as chief financial officer.

Both board nominees of Crown’s biggest shareholder, James Packer, left the day after the report was released. Director Andrew Demetriou also resigned last week.

Barton disclosed last year during Bergin’s investigation that Crown hadn’t yet analyzed the accounts that were reportedly used by money launderers. He was also unaware for years that a major junket operator had a cash desk at Crown’s Melbourne casino, even though the setup posed a money-laundering risk.

Packer’s Casino Dream Dashed as Crown Seen Unfit for License

Barton’s evidence during the inquiry “demonstrated a serious lack of judgment,” Bergin wrote. “His problems will not be cured by the appointment of people expert in the field who report to…



Read more:Crown CEO Ken Barton Quits After Scathing Casino Report

Tags: Andrew DemetriouAustraliaBartonbitcoin news todaybusinessCasinoCEOcrownCROWN RESORTS LTDcultureKenKen BartonMarketsMelbournemoney launderingONE - CLASS APerthQuitsReportScathingSydney

Related Posts

ICE investigators used a private utility database covering millions to pursue

ICE investigators used a private utility database covering millions to pursue

by Bitcoin Market
February 27, 2021
0

The database, CLEAR, includes more than 400 million names, addresses and service records from more than 80 utility companies...

Argo Blockchain Installs 4,500 Crypto Mining Machines From Celsius Network

Argo Blockchain Installs 4,500 Crypto Mining Machines From Celsius Network

by Bitcoin Market
February 26, 2021
0

BloombergPowell Is Patient But Markets Aren’t, Challenging New Fed Policy(Bloomberg) -- After Federal Reserve Chair Jerome Powell spent two...

Business this week

Business this week

by Bitcoin Market
February 26, 2021
0

Feb 27th 2021Listen to this storyYour browser does not support the element.Enjoy more audio and podcasts on iOS or...

IT News Online – Link Global Signs Binding LOI for Electrical Cost Reducing

by Bitcoin Market
February 25, 2021
0

VANCOUVER, BC / ACCESSWIRE / February 25, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) ("LINK" or the "Company"),...

Charlie Munger on Bitcoin: ‘buy the unspeakable’

Charlie Munger on Bitcoin: ‘buy the unspeakable’

by Bitcoin Market
February 25, 2021
0

Charlie Munger on Bitcoin: ‘buy the unspeakable’ Yahoo Finance Read more:Charlie Munger on Bitcoin: ‘buy the unspeakable’

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
Bitcoin has established itself as a macro asset and should be viewed like gold:

Bitcoin has established itself as a macro asset and should be viewed like gold:

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
Bitcoin has established itself as a macro asset and should be viewed like gold:

Bitcoin has established itself as a macro asset and should be viewed like gold:

February 27, 2021
Proactive news headlines: Cellular Goods, Argo Blockchain, Corero Network Security,

Proactive news headlines: Cellular Goods, Argo Blockchain, Corero Network Security,

February 27, 2021
ICE investigators used a private utility database covering millions to pursue

ICE investigators used a private utility database covering millions to pursue

February 27, 2021
Why The9 Limited Stock Got Crushed Today | The Motley Fool

Why The9 Limited Stock Got Crushed Today | The Motley Fool

February 27, 2021
Increasing stock market volatility drags Bitcoin and altcoin prices lower

Increasing stock market volatility drags Bitcoin and altcoin prices lower

February 27, 2021
Market Wrap: Bitcoin Heads for Worst Week Since March as Prices Hold Around $46.5K –

Market Wrap: Bitcoin Heads for Worst Week Since March as Prices Hold Around $46.5K –

February 27, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$47,945.001.29%
  • bitcoin-cashBitcoin Cash(BCH)$494.130.052%
  • binance-coinBinance Coin(BNB)$228.82-1.09%
  • bitcoin-goldBitcoin Gold(BTG)$26.740.512%
  • bitcoin-privateBitcoin Private(BTCP)$0.405-44.70%
  • blocktixBlocktix(TIX)$0.0200.00%