Original article by Paul Garvey
The Australian – Page: 13 & 17 : 3-Feb-22

The Western Australian government’s royal commission into Crown Resorts’ casino in Perth has commenced hearing the closing submissions. James Packer’s legal representative Noel Hutley SC told the inquiry that imposing a shareholding cap on Crown would affect the company’s ability to raise capital. Concerns have also been expressed that such a cap could potentially prompt private equity firm Blackstone to withdraw its $8.9bn takeover bid from Crown. Hutley has also told the inquiry that Packer no longer has any influence over Crown or its casinos. Packer’s family company Consolidated Press Holdings has a 37 per cent stake in Crown.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, THE BLACKSTONE GROUP LP, CONSOLIDATED PRESS HOLDINGS LIMITED