Packer agrees distancing measures from Crown

Crown Resorts’ largest shareholder has reached an agreement with the New South Wales regulator under which it agreed not to seek representation on the board, share information with the company or have discussions that are not in a public forum.

James Packer’s Consolidated Press Holdings also agreed not to seek any amendment to the Australian operator’s constitution that would affect the business.

The Bergin inquiry, which found Crown not suitable to hold a licence for its new property in Sydney, raised grave concerns about Packer’s undue influence over the company. The billionaire has a 37 per cent stake.

Source: Asia Gaming Brief