Pic credit: thewest.com.au
Ken Barton has formally declared to step down as the CEO of Crown Resorts after the blistering report into the gambling giant.
As per the official statement, Crown Resorts said that it had to take some “significant steps” to enhance the place’s compliance, governance, and culture.
Henceforth, Helen Coonan will be taking charge as the executive chairman. Following the same, an investigation commissioned by the Independent Liquor and Gaming Authority of NSW said that Crown Resorts was unable to operate a licence for its new casino in Sydney. As a result, the governing authorities imposed regulations and released a notice against Crown Resorts.
Further, Commissioner Patricia Bergin’s report claimed that there was no future in Crown Resorts for Mr. Barton anymore.
Ken Barton released a statement and said that he was committed to supporting the leadership transition. He continued and added, “I am absolutely certain the business is now on the right path as it works to restore confidence in its operations,”
So far, Mr. Barton has given his more than three decades to building Crown Resorts. Before being the CEO of Crown Resorts, he served as the chief financial officer for Crown Resorts.
While being an integral part of the Crown Resorts, he worked as the director of VIP bank accounts at the money laundering center. The commissioner Bergin found Mr. Ken Barton as “no match for what is needed at the helm of a casino licensee”.
Patricia Bergin continued and said, “His problems will not be cured by the appointment of people expert in the field who report to him”,
As per Begin’s statements, Mr. Barton should have launched a thorough investigation into the gambling and money laundering allegations.
Mr. Barton was accused of misleading the shareholders who attended the Annual General Meeting in 2019.
Later, Ms. Coonan apologised for the company’s shortcomings and said that sheer criticism by the ruling authorities was warranted on a prior basis.