Packer slams Crown accusations as 'a lie'

Returned Crown Resorts director James Packer has attacked allegations levelled against his casino group, while hinting the company is open to more transparency.

Billionaire James Packer

James Packer and Crown executive chairman John Alexander arrive at Crown Resorts' AGM in Melbourne. (AAP)

Billionaire James Packer has labelled serious misconduct allegations made in parliament against casino operator Crown Resorts as "a lie", while defending the gambling business under questioning from a former poker machine addict.

Mr Packer, who is Crown's biggest shareholder and recently rejoined the Crown board, attended the company's annual general meeting on Thursday and said Crown is open to improving industry transparency on problem gambling and poker machine profits.

He faced questions from retired businesswoman Anna Bardsley, who said she had spent 10 years recovering from a poker machine addiction that had turned her into a person she did not recognise.

"If I see or hear a poker machine accidentally, because I don't go anymore, they still have the power to trigger my brain," Ms Bardsley said.

"How much do you know about the real people that are harmed by poker machines which are addictive?"

Mr Packer replied: "I'm very sympathetic for the difficulties that the last 10 years has put you through."

However the gaming mogul said Crown was in the business of running casinos.

"It's impossible to run casinos without tables and slots," he said.

"We have a real responsibility to make sure people aren't harming themselves because, in truth, if that happens it becomes bad for our business because of the political backlash, let alone the human cost."

Mr Packer said some gambling industry players were less ethical than Crown, leaving him frustrated by the allegations recently aired in parliament by independent MP Andrew Wilkie.

"Maybe because we're a bigger company, maybe because we're more well-known, or maybe because I'm more well-known, Andrew Wilkie throws something into parliament which is a lie," he said.

Mr Wilkie used parliamentary privilege to make allegations including that Crown tampered with gaming machines to increase profits and allowed the use of illicit drugs at its Melbourne casino.

Mr Packer said Crown may be open to providing data collected on poker machine revenue and problem gamblers "because we are living in a world of more and more transparency".

Mr Packer also said the detention of Crown employees in China from October, 2016 was central to Crown's strategic shift from a global focus to concentrating on Australia.

"That, in truth, forced the Crown directors' hand to a large degree in relation to Macau," Mr Packer said.

Crown sold its interests in joint-venture casinos in Macau following the detentions.

Mr Packer also said he is increasingly confident about Crown's $2.4 billion luxury hotel, casino and apartment project at Barangaroo in Sydney.

Questions have been raised about the viability of the project given the sharp drop-off in visits to Australia by VIP gamblers from China following the China arrests.

"As every day passes, I become more confident," Mr Packer said.

"That's because VIP volumes are starting to increase again into Australia, and that's because Sydney real estate prices continue to hold up."

In a trading update, Crown said revenue from main-floor gaming at its casinos in Melbourne and Perth this financial year was up slightly on the previous corresponding period, while VIP gambling turnover was down around 17 per cent.

Shares in Crown closed 19 cents higher at $11.48.


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Published 26 October 2017 5:16pm
Source: AAP


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