Robert Rankin, who until January served as chairman of Crown Resorts Ltd, is now leaving the board of the Australian casino operator. Mr Rankin has resigned as a director of the company, Crown Resorts announced on Wednesday in a press release.
Mr Rankin previously served as non-executive chairman of Crown Resorts from August 2015 to January 2017. John Alexander was appointed as executive chairman with effect from February 1.
Commenting on his departure, Mr Rankin said: “It has been an honour to have served on the Crown Resorts board. The company remains one of Australia’s most valuable tourism operators … I am proud of the direction that Crown Resorts is taking and my role in its development.”
Mr Alexander said in a prepared statement included in the release: “I would like to thank Rob for his contribution as a director and his time as Crown Resorts chairman.”
“Rob has shown great commitment to the company and strived to ensure Crown Resorts is best positioned for the future,” he added.
Mr Rankin’s resignation comes after Crown Resorts completed the disposal of its remaining stake in Melco Resorts and Entertainment Ltd, a company that owns and operates casino properties in Macau and in the Philippines. After that deal was completed in May, Mr Rankin resigned as a non-executive director of the Asian firm.
Lawrence Ho Yau Lung, chairman and chief executive of Melco Resorts, told the Financial Times newspaper, in an interview in May, that Crown Resorts – controlled by his former business partner James Packer – and other casino operators had upset the Chinese government by engaging staff to promote gambling despite a ban on gambling marketing in mainland China.
Some employees of Crown Resorts are listed to appear at a Shanghai court on June 26 charged with gambling promotion.
Feb 16, 2018Due to the Chinese New Year holiday, the GGRAsia team will be off between February 16 and 19. We will be back on February 20. We wish all our readers a prosperous Year of the Dog!
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”A challenge to Macau's economic model could potentially emerge over the longer term should China revise existing criminal laws that prohibit most forms of gambling in the mainland... Even in such a scenario, Fitch would expect this to occur gradually”
Fitch Ratings Inc