James Packer gives evidence at Perth royal commission

China VIP risk wasn’t worth the profit: Packer

Crown Resorts shareholder James Packer appeared via videolink on early Friday morning to give evidence at the Perth royal commission into Crown Resorts. 

Packer, a former Crown Resorts director, and major shareholder, was called on to give evidence in the royal commission, which is investigating whether the WA regulator effectively allowed Crown to self-regulate aspects of its operations in Perth. The inquiry will also look into whether Crown is suitable to hold a license in the state.  

It comes just days after a recommendation from the Victorian royal commission for Packer to reduce his stake in the company to just 5 percent, down from 37 percent. 

Evidence has previously been heard about Packer’s links to former Crown director and Perth investment banker John Poynton, who replaced Mr. Packer on Crown’s board in 2018 as a nominee of Packer’s Consolidated Press Holdings. 

The royal commission heard that Poynton had signed a consultancy agreement with CPH which included a clause that he would disclose confidential information relating to Crown Resorts “on demand.”

However, Poynton testified that he never provided confidential information to James Packer or CPH.