Australia’s Crown Resorts CEO holds on to job, third director resigns

(Reuters) – Crown Resorts said on Friday that Ken Barton was still its top boss, although a third director had resigned over a scathing report that had deemed the Australian casino operator unfit to hold a gambling licence for its new Sydney casino.

Barton’s role with the casino giant is still being considered, Crown said, while announcing Andrew Demetriou’s resignation as a director.

Tuesday’s report, a year-long inquiry commissioned by the New South Wales state gambling watchdog, laid bare allegations of widespread money laundering and governance failures at Crown, calling for sweeping changes to its board and culture.

Barton was singled out in the report as “no match for what is needed.”

The other two directors who left the company on Wednesday represented major shareholder James Packer.

A second regulator on Thursday in the state of Victoria added further pressure on Barton and another director, asking whether they are suitable to be associated with Crown’s Melbourne casino.

The Victorian watchdog now has several active investigations into Crown, its CEO said.