Ben Butler. Now, after a number of negative headlines and scandals, the 2019 Crown Resorts AGM in Melbourne this Thursday is tipped to be one of the most interesting shareholder gatherings of the year. Crown is currently being probed by federal regulators and watchdogs in three states, after scandals exposed by Channel Nine. "Do you agree that the $300,000 fine means that vehement denials lack credibility about subsequent allegations?". There was no webcam of the meeting, no pictures or recordings inside it. That’s BOTH for just $129. Then, there’s James Packer’s two attempts this year to relinquish absolute control of Crown after 20 years as the dominant shareholder. But there's a hitch. Our two-for-one offer with The Atlantic was so popular we decided to bring it back. But who exactly will be asking those questions? Will big companies use COVID-19 to dodge tricky AGMs? Aristocrat, a heads up: here are my tough AGM questions. James Packer's Crown gambling empire is bleeding from China's high-roller gaming crackdown. "No," was the quick answer from Mr Alexander. Journalist and Crikey founder @MayneReport. Harold Mitchell is currently being pursued by regulator ASIC and answered questions with a vehement denial of any wrongdoing, while Helen Coonan is a director of another ASX-listed company, the chair of four others and a director and ambassador at others. We look forward to seeing you bright and early with your need-to-know talking points and tidbits for the day ahead. Mr Ho is the son of controversial Macau gambling kingpin Stanley Ho. But following big splashes in the Nine papers, regular hits by whistleblowers and staff revolt, Thursday's meeting of shareholders is shaping up to be quite the show. Attorney-General Christian Porter said Tuesday he had referred allegations to the Australian Commission for Law Enforcement Integrity, which will determine whether a further probe is needed. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), How Crown flouted the rules and got away with it, Why James Packer might want to get out of the gambling business, Jewels out of the Crown: VIP gamblers abandon casinos in Melbourne, Perth and London. Surprisingly, Alexander is using the exemption afforded to CEOs to avoid election in 2019, even though he is executive chairman and was last elected in 2016. "No, I don't regret making those denials," Mr Alexander said. John Alexander came in for criticism over his continuing role as executive chairman during the Crown Resorts 2019 annual meeting. The company has lost about A$433 million ($300 million) in market value this week. Shareholder activist Stephen Mayne asked: "Will there be a transcript?". Given Helen Coonan’s ridiculous workload and failure to buy any Crown Resorts shares during her eight-year stint on the board, it was surprising that CGI Glass Lewis was the only proxy adviser to recommend a vote against the former Howard-era communications minister. The company hit back at the allegations with full-page newspaper ads blasting them as unfounded. It’s another blow to Crown and its biggest shareholder, Australian billionaire James Packer, two years after a Chinese court convicted 19 current and former employees of illegally promoting gambling. “We believe these allegations are ill-informed and an attempt to smear the company,” Crown said in a statement. How are they managing in a time of social distancing? So where were the gambling regulators? China’s Message to Asia’s Casinos: Place Your Bets Elsewhere. Adds comment from Crown starting in fifth paragraph. "The [tampering] was an operational oversight mistake. The commission’s main role is to investigate corruption within law enforcement bodies and it also has oversight of several agencies including the department of home affairs, the border force and federal police. "You later paid a record $300,000 fine. Crown usually tries to avoid the spotlight, but all the company's issues will be on display at this week's Crown Resorts 2019 AGM. Crown shares fell after Porter’s referral raised the possibility of an extended investigation hanging over the company. "Crown has no interest in being used by those who seek to do the wrong thing … I do acknowledge that these sensationalist allegations have raised some concerns amongst our stakeholders … I can personally assure you we are taking these matters seriously.". Professor Horvath has been testifying by video-link for a second day to a NSW inquiry investigating Crown's suitability to run a new casino at Sydney's Barangaroo. He’s a former political staffer and local government councillor who also pursues shareholder advocacy as a two-time former director of the Australian Shareholders’ Association. Contact us on: [email protected] or call the hotline: +61 (03) 8623 9900. Famous for his cost-cutting, Alexander has his Melbourne casino workforce in open revolt. What's the bet Aristocrat Leisure's board will avoid answering any of these questions? Get Crikey FREE to your inbox every weekday morning with the Crikey Worm. The publication of the claims triggered separate calls by independent lawmakers on Monday for an investigation by a parliamentary committee. Despite Mr Alexander blasting the allegations at that year's AGM, the casino went on to pay a record $300,000 fine for the tampering issue. The most recent of these came to light last week. The former Fairfax newspaper editor has received a staggering $73 million from Crown and PBL over the past 16 years. Three Australians spent almost a year in jail. Before it's here, it's on the Bloomberg Terminal. ': Canberra magistrate shocked by Supreme Court decision, You might find some more money in your next pay packet, 'I'm glad I didn't come home': Not all Aussies overseas are desperate to return, How to appreciate Cameron Smith even if you never watch rugby league, Gambling giant Crown deals itself difficult hand, Chinese authorities detained almost 20 Crown employees, poker machine tampering and rampant drug use, selling his controlling stake to Lawrence Ho for $1.8 billion, pressuring the government to fast-track visas for foreign VIPs. "There have been a number of sensationalist and unproven claims made, with many focused on allegations from over five years ago," Mr Alexander said. The world’s most powerful proxy advisory firm ISS has gone against the remuneration report. It caps a horror few years for the gambling giant. The only other executive chairs to do this amongst ASX 100 companies over the past 20 years have included the likes of John Gay at Gunns, Rupert Murdoch at News Corp and Nick Falloon at Ten. Then, allegations of poker machine tampering and rampant drug use at the company's flagship Melbourne casino. Stephen Mayne is the founder of Crikey, and previously worked part-time at The Alliance for Gambling Reform. Crown is a company that famously shuns the spotlight. The gaming company said Tuesday it will assist with any investigation, but that it “absolutely rejects” allegations of illegality made in parliament and recent media reports. Crown said it has a “robust process” for vetting junket operators and undertakes regular reviews. The various proxy advisers have all issued their reports ahead of the meeting. Just fill out the fields below and we'll send your friend a link to this article along with a message from you. 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Former AFL CEO Andrew Demetriou is the only candidate supported by all proxy advisers and it will be interesting to see if the Ho interests choose to vote their 10% stake on the board elections given they are yet to receive clearance to nominate their own candidate to the board. He also spent two years working for the Alliance for Gambling Reform. Alexander is now 67 and, after spending 21 straight years as an executive with the Packers since being fired by Fairfax in 1998, there are some who doubt he’ll still be executive chairman of Crown Resorts a year from now. Companies are required to allow shareholders to ask questions during an AGM. The Crown Resorts AGM was a typically feisty, if somewhat secretive affair, with executive chair John Alexander batting away allegations of numerous scandals involving the casino business. Local outfit Ownership Matters, which is particularly influential with industry funds, has recommended against the re-election of advertising rich-lister Harold Mitchell on the grounds of board renewal.
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