Crown casino inquiry told James Packer given secret financial forecasts before share sale
by Anne Davies from on (#58HFM)
CEO Ken Barton says a Crown director and CPH executive suggested he increase revenue projections
The inquiry into the suitability of Crown Resorts to hold a casino licence has heard that secret financial forecasts were provided to billionaire James Packer just before he announced plans to sell up to 19.9% of the group to Laurence Ho's Melco Resorts.
Packer was, and remains, the largest shareholder in the ASX-listed Crown through his private company Consolidated Press Holdings (CPH). But by May 2019, Packer had stepped down from the board of Crown and CPH, citing health issues and he no longer had any formal positions with either company.
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