The following agreements have been entered into to operate The Star casino: Casino Licence PDF, 489.93 KB; Casino Exclusivity Agreement PDF, 640.72 KB; Casino Regulatory and Compliance Deed PDF, 4011.67 KB; Casino Operations Agreement PDF, 2661.8 KB; Continuity and Cooperation Agreement – 2nd Deed of Amendment PDF, 1687.92 KB. Casino Union members have the right to a union representative or delegate to attend meetings with casino management - see page 71 for more info. The recognition allowance has been introduced to recognise the hard work and sacrifices that Crown staff make to ensure the success of the casino. Crown Resorts has terminated two agreements it had with Consolidated Press Holdings, including the sharing of confidential information with stakeholder James Packer, on the eve of its annual. MANAGEMENT AGREEMENT (Gaming Operations) This MANAGEMENT AGREEMENT (Gaming Operations) (this “Agreement”) is made and entered into as of March 1, 2011 (the “Execution Date”), by and between LVHR CASINO, INC., a Nevada corporation (the “Casino Tenant”) and WG-HARMON, LLC, a Nevada limited liability company (the “Manager”). Crown Resorts is facing scrutiny from the corporate regulator over the $1.8 billion deal by Lawrence Ho’s Melco International group last May to buy a 20 per cent stake from James Packer’s.

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The Herald Sun Business Columnist Terry McCrann says James Packer and Crown are in a “world of pain” amid a current inquiry because if there’s a negative outcome, “it will reverberate around the country”.

Crown Resorts has ripped up two agreements with major shareholder James Packer. Picture: William West / AFPSource:AFP

Shareholders in Crown Resorts have revolted against the embattled casino giant for its ongoing governance failings and alleged facilitation of money laundering by Asian junket partners.

At its annual general meeting on Thursday, the casino operator was delivered a first strike against its remuneration report, with 34.3 per cent of shareholders voting against the annual pay packets of Crown’s executive and board – well above the required 25 per cent threshold.

If Crown receives a second strike at its AGM next year, shareholders will vote at the same meeting to determine whether the directors will need to stand for re-election within 90 days.

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James Packer’s private company Consolidated Press Holdings, which holds the biggest stake in Crown at 36 per cent, abstained from voting on the remuneration report.

Guy Jalland, CHP’s nominee director on the Crown board, said that was the “conservative and appropriate path to take” but replied “no” when asked if it was designed to trigger a possible board spill at the 2021 AGM.

There was a massive number of votes against the re-election of Mr Jalland and to a lesser extent the other independent directors John Horvath and Jane Halton.

With the backing of CPH, it was not enough to force them to step down, but Mr Horvath has elected to leave nonetheless.

Crown said he would stay on “until alternative arrangements are put in place”.

Crown is being investigated by a NSW gaming inquiry to determine if the casino is suitable to hold a gaming licence. Picture: NCA NewsWire / Jeremy PiperSource:News Corp Australia

The shareholder backlash follows a NSW Independent Liquor and Gaming Authority inquiry that raised serious concerns about Crown’s governance and possible breaches of anti-money laundering laws, which are being investigated by the financial crimes regulator AUSTRAC.

The inquiry was triggered by explosive media reports last year that included leaked footage of huge amounts of cash moving through a room at Crown Melbourne dedicated to Suncity, Macau’s largest junket operator.

It is determining whether Crown is fit to hold a gaming licence for the new $2.4 billion Barangaroo development in Sydney, which is nearing completion.

Chair Helen Coonan was asked by Commissioner Patricia Bergin earlier this week if she agreed “the bystander could reasonably conclude that this conglomerate of ineptitude, lack of attention and failing to intervene facilitated money laundering?” and replied: “Yes … it was the turning a blind eye that I didn’t agree with.”

At Thursday’s AGM, chief executive Ken Barton was asked why he didn’t launch a probe after ANZ closed Crown bank accounts in 2014 over money laundering concerns.

“There is a distinction between money laundering and indicators of money laundering,” Mr Barton said.

“There were reviews done; however, not reporting those matters through to the board was an oversight.”

John Horvath says he will step down from Crown’s board. Picture: SuppliedSource:Supplied

In her opening address, Ms Coonan acknowledged the governance and risk management failings, saying she would lead sweeping changes into the company’s culture and compliance with regulators.

“I unreservedly apologise for these failings,” she said.

“The board is determined and willing to learn from the past.”

Ms Coonan also said the Crown board would undergo significant, staged renewal following the managerial failings.

In a statement lodged to the Australian Securities Exchange on Wednesday night, Crown announced it would terminate a services agreement and a controlling shareholder protocol with CPH.

The controlling shareholder agreement, which was implemented in 2018, allowed Crown executives to directly share sensitive information with Mr Packer.

Ms Coonan said Crown was reviewing its agreements with Mr Packer.

“I appreciate that this relationship needs to be appropriately managed.”

Shareholders asked if Mr Barton should be fired after he wrongly indicated at the company’s AGM last year the reclusive billionaire did not receive special treatment.

“It was never my intention to mislead or provide a non-answer,” Mr Barton said.

“In hindsight, I recognise my response was not a complete answer to that question … and I apologise.”

Crown chairman Helen Coonan said the company would overhaul is compliance structure. Picture: Adam YipSource:News Corp Australia

Ms Coonan said the board had “every confidence” in Mr Barton’s ability to carry out his role, which had also included the chair position until early this year.

Shareholders also asked whether Michael Johnston, a CPH executive, should stay on as a Crown director given he was aware of the risks in China ahead of 19 staff members being arrested there in 2016 but didn’t tell other directors.

Ms Coonan said that was “straying very much into the domain of the inquiry”, while Mr Johnston replied it was appropriate he remain on the board.

She also apologised to one of the detained staffers, Jenny Jiang, who was attacked by the Crown board in a full-page advertisement and ASX announcement in response to the bombshell media allegations, which Ms Bergin described as portraying Ms Jiang as a gold digger.

“Perhaps the tone could have been slightly softer in the ad we took out,” Ms Coonan said.

When prompted, she also apologised to the other staff who were detained, acknowledging the deep distress it caused.

Mr Barton rejected a suggestion Mr Packer’s ‘inappropriate” shareholding should be diluted through a share offer, saying Crown was focused on getting through the pandemic without having to rely on cash from investors, so such a move “would not be the right approach from a capital management perspective”.

The Herald Sun Business Columnist Terry McCrann says James Packer and Crown are in a “world of pain” amid a current inquiry because if there’s a negative outcome, “it will reverberate around the country”.

Crown Resorts has ripped up two agreements with major shareholder James Packer. Picture: William West / AFPSource:AFP

Shareholders in Crown Resorts have revolted against the embattled casino giant for its ongoing governance failings and alleged facilitation of money laundering by Asian junket partners.

At its annual general meeting on Thursday, the casino operator was delivered a first strike against its remuneration report, with 34.3 per cent of shareholders voting against the annual pay packets of Crown’s executive and board – well above the required 25 per cent threshold.

If Crown receives a second strike at its AGM next year, shareholders will vote at the same meeting to determine whether the directors will need to stand for re-election within 90 days.

James Packer’s private company Consolidated Press Holdings, which holds the biggest stake in Crown at 36 per cent, abstained from voting on the remuneration report.

Guy Jalland, CHP’s nominee director on the Crown board, said that was the “conservative and appropriate path to take” but replied “no” when asked if it was designed to trigger a possible board spill at the 2021 AGM.

There was a massive number of votes against the re-election of Mr Jalland and to a lesser extent the other independent directors John Horvath and Jane Halton.

With the backing of CPH, it was not enough to force them to step down, but Mr Horvath has elected to leave nonetheless.

Crown said he would stay on “until alternative arrangements are put in place”.

Crown is being investigated by a NSW gaming inquiry to determine if the casino is suitable to hold a gaming licence. Picture: NCA NewsWire / Jeremy PiperSource:News Corp Australia

The shareholder backlash follows a NSW Independent Liquor and Gaming Authority inquiry that raised serious concerns about Crown’s governance and possible breaches of anti-money laundering laws, which are being investigated by the financial crimes regulator AUSTRAC.

The inquiry was triggered by explosive media reports last year that included leaked footage of huge amounts of cash moving through a room at Crown Melbourne dedicated to Suncity, Macau’s largest junket operator.

It is determining whether Crown is fit to hold a gaming licence for the new $2.4 billion Barangaroo development in Sydney, which is nearing completion.

Chair Helen Coonan was asked by Commissioner Patricia Bergin earlier this week if she agreed “the bystander could reasonably conclude that this conglomerate of ineptitude, lack of attention and failing to intervene facilitated money laundering?” and replied: “Yes … it was the turning a blind eye that I didn’t agree with.”

At Thursday’s AGM, chief executive Ken Barton was asked why he didn’t launch a probe after ANZ closed Crown bank accounts in 2014 over money laundering concerns.

“There is a distinction between money laundering and indicators of money laundering,” Mr Barton said.

“There were reviews done; however, not reporting those matters through to the board was an oversight.”

Crown Casino Management Agreement Sample

John Horvath says he will step down from Crown’s board. Picture: SuppliedSource:Supplied

In her opening address, Ms Coonan acknowledged the governance and risk management failings, saying she would lead sweeping changes into the company’s culture and compliance with regulators.

“I unreservedly apologise for these failings,” she said.

“The board is determined and willing to learn from the past.”

Ms Coonan also said the Crown board would undergo significant, staged renewal following the managerial failings.

In a statement lodged to the Australian Securities Exchange on Wednesday night, Crown announced it would terminate a services agreement and a controlling shareholder protocol with CPH.

The controlling shareholder agreement, which was implemented in 2018, allowed Crown executives to directly share sensitive information with Mr Packer.

Ms Coonan said Crown was reviewing its agreements with Mr Packer.

“I appreciate that this relationship needs to be appropriately managed.”

Shareholders asked if Mr Barton should be fired after he wrongly indicated at the company’s AGM last year the reclusive billionaire did not receive special treatment.

“It was never my intention to mislead or provide a non-answer,” Mr Barton said.

“In hindsight, I recognise my response was not a complete answer to that question … and I apologise.”

Crown Casino Management Agreement Download

Crown chairman Helen Coonan said the company would overhaul is compliance structure. Picture: Adam YipSource:News Corp Australia

Ms Coonan said the board had “every confidence” in Mr Barton’s ability to carry out his role, which had also included the chair position until early this year.

Shareholders also asked whether Michael Johnston, a CPH executive, should stay on as a Crown director given he was aware of the risks in China ahead of 19 staff members being arrested there in 2016 but didn’t tell other directors.

Ms Coonan said that was “straying very much into the domain of the inquiry”, while Mr Johnston replied it was appropriate he remain on the board.

She also apologised to one of the detained staffers, Jenny Jiang, who was attacked by the Crown board in a full-page advertisement and ASX announcement in response to the bombshell media allegations, which Ms Bergin described as portraying Ms Jiang as a gold digger.

“Perhaps the tone could have been slightly softer in the ad we took out,” Ms Coonan said.

When prompted, she also apologised to the other staff who were detained, acknowledging the deep distress it caused.

Crown Casino Management Agreement Example

Mr Barton rejected a suggestion Mr Packer’s ‘inappropriate” shareholding should be diluted through a share offer, saying Crown was focused on getting through the pandemic without having to rely on cash from investors, so such a move “would not be the right approach from a capital management perspective”.