Crown denies keeping shareholders in dark
CROWN Resorts has denied keeping shareholders in the dark over allegations of corruption that have led to the casino operator being referred to law enforcement.
Asked by the Australian Securities Exchange whether it had any unannounced information that could explain recent share price falls, Crown yesterday referred the share market operator to media allegations of money-laundering and visa irregularities.
Shares in Crown moved within a 3.9 per cent range on Monday and a 6.0 per cent range on Tuesday — closing 3.2 per cent and 1.9 per cent lower respectively.
“CWN confirms that it is not aware of any information concerning it that has not been ment experience. The group has used innovative approaches to develop a whole range of industrial sites across the country and they’ve pledged a long-term commitment to creating a substantial suite of new jobs that will be a measure of success for the project.
By supporting the local community and driving a greater sense of purpose, Pelligra offers a fresh sense of hope to those doing it tough after the Ford shutdown.
The group is committed to taking a long-term view of its development and is focused on choosing tenants who share the group’s vision for the site.
Pelligra plans to develop extensive training opportunities for young people as well as reskilling opportunities for others to create pathways into advanced manufacturing.
Pelligra’s real estate partner, Alex Moffatt from CBRE, announced to the ASX which a reasonable person would expect to have a material effect on the price or value of CWN’s shares,” Crown general counsel Mary Manos said in a letter to the ASX.
Ms Manos said that Crown had taken account of the media allegations and the fact that it had some financial information due to its full-year results being compiled for is already talking to potential tenants and, while fitouts and operations are not expected to commence until next year, there’s been plenty of interest from a wide range of manufacturers including some who are looking to expand or relocate from Pelligra’s numerous other sites nationally.
The Geelong site is over 155,000sq m and the group is looking for businesses that need anywhere between audit ahead of release on August 21.
Crown faces claims it had a hotline to Australian consulates to fast-track visa applications for big-spending gamblers flying in from China.
There are also allegations Crown laundered large sums of money through its Melbourne gaming venue, which the company strongly rejects.
Attorney-General Christian 300sq m and 140,000sq m.
There will also be plenty of office space available to support the operations and the whole facility will be powered by solar energy.
Pelligra is also considering a number of additional Geelong sites to complement the Ford facility.
Pelligra has committed to working with Geelong’s stakeholders and their potential tenants to further define the Porter yesterday referred allegations involving Crown and government agencies to the Australian Commission for Law Enforcement Integrity.
Crown says it will assist any investigation and rejects all allegations of wrongdoing, calling the allegations a “smear campaign”.
Shares in Crown Resorts closed 1.4 per cent lower at $11.86 yesterday. vision and ensure Geelong takes full advantage of the opportunities presented.
They’re interested in understanding Geelong’s strengths and working with stakeholder groups to ensure they succeed in broadening the skills base and making our city much more competitive on a global level.
There’s a real sense of optimism throughout Geelong’s business community and it’s that positive energy that seems to be attracting innovative partners like Pelligra who have the vision to transform our city into something great.
The Geelong Chamber of Commerce, our members and all of our key stakeholders look forward to seeing Pelligra’s vision come to life. Good luck to everyone involved. Ben Flynn is chief executive of the Geelong Chamber of Commerce. geelongchamber.com.au