Australian casino group loses CEO after inquiry recommends denial of new licence

Australian casino group Crown Resorts has lost several key executives after an inquiry declared it unsuitable to hold a gambling licence, with the CEO becoming the latest executive to resign on Monday.

A public inquiry last week recommended a denial of licence for a new multi-billion-dollar casino that dominates Sydney’s skyline, over its failure to address allegations of money laundering and links to organised crime.

Crown Resorts CEO Ken Barton stepped down amid mounting pressure after more than a decade with the firm, including as chief financial officer.

He follows the resignation of three directors in the wake of the report into the firm, which was long run by media tycoon and billionaire James Packer.

Two of the departed directors represented Packer’s holding firm, CPH, which holds around 35% of Crown shares.

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The New South Wales Liquor and Gaming Authority commissioned the public inquiry after media reports that existing Crown casinos in Australia were used to launder profits from human trafficking, drugs, child sexual exploitation and terrorism.

Former Supreme Court judge Patricia Bergin said Crown was “not suitable” for a licence and had been “facilitating money laundering” and doing business with groups linked to triads and other organised crime organisations.

Company chair and former Australian government minister Helen Coonan will lead the search for a new CEO.