Australia's Crown Resorts CEO resigns in wake of money laundering inquiry

The chief executive of Australian casino group Crown Resorts, Ken Barton, has resigned in the wake of damning findings from the New South Wales (NSW) gambling regulator’s probe into money laundering at its Melbourne and Perth casinos. Barton’s departure follows that of several other company directors. The company, for which conferencing has been a major part of its integrated resort strategy, confirmed Barton’s stepping down as CEO and managing director in a statement on 15 February. Helen Coonan moves from chairman to executive chairman while a replacement is found. Barton (pictured) said in a statement: “I would like to thank the Crown directors for the opportunity to work with them on implementing Crown’s strategy. Over the past 10 years, Crown has established itself as a great Australian company with world-class assets and I am absolutely certain the business is now on the right path as it works to restore confidence in its operations. I am committed to assisting with the transition to new leadership.” An Independent Liquor and Gaming Authority Inquiry had found Crown, majority owned by James Packer, was not fit to hold a gaming licence in NSW and, therefore, could not operate its newly built A$2.2bn (US$1.7bn) casino in Sydney. Crown has also faced allegations of illegal activity at its casinos in Melbourne and Perth and allegations that its paid-for trips for incoming Chinese high-roller gamblers left it open to links to organised crime groups. NSW inquiry commissioner Patricia Bergin found Crown had been “facilitating money laundering, exposing staff to the risk of detention in a foreign jurisdiction and pursuing commercial relationships with individuals” connected to criminal groups. Bergin described Barton as “no match for what is needed at the helm of a casino licensee,” in her report. The report recommended an overhaul of the company’s governance and the sacking of most of the board. Barton had previously been chief financial officer before becoming chief executive of Crown in 2020. New executive chairman Helen Coonan reacted by saying the company was taking “significant steps to improve our governance, compliance and culture”. Repercussions of the scandal were continuing to be felt and Australian media was reporting that Western Australia’s chief casino regulator had resigned after it was revealed he was friends with senior members of Crown’s legal team.