Crowns share price rises as it holds onto casino licence

Publish Date:

Author: Unknown

Crown will retain its Melbourne casino licence for now despite Victorias Royal Commission finding it unfit to operate the business according to Sky News Business Reporter Edward Boyd Crown has had a boost to shareholders of almost 10 per cent but recommendation 85 of the commission says main shareholder James Packer needs to sell some shares Mr Packer and his company Consolidated Press Holdings currently own 37 per cent of Crown but it is recommended he sell down until he only owns five per cent by September 2024