- Packer attacks Andrews for tax change impacting Crown’s takeover.
- Crown faced major scrutiny for money-laundering and governance failures.
- Political leaders dismiss privileged billionaire’s personal criticisms of Andrews.
James Packer, once CEO and chairman of the Crown Resorts empire, thinks the former head of Australia’s state of Victoria, Daniel Andrews, is “human filth.”
Packer was speaking to business and financial news podcast Rampart Talks about Andrews’ tenure as Victorian Premier, and in particular how the politician’s introduction of a tax on slots in 2022 could have torpedoed Crown’s US$8.9 billion takeover by US private equity giant Blackstone.
With three weeks to go, Daniel Andrews changes taxes on Crown and rips $50m out of Crown and gives no compensation,” Packer told Rampart’s host, the journalist Joe Ashton.
“I thought that was appalling behavior. I’m looking forward to seeing Daniel Andrews in person and speaking far more aggressively than I am,” he added.
“I couldn’t think more lowly of Daniel Andrews, I think he is human filth … I hope he sues me,” Packer said.
$2.3B Payday
Regardless, the deal went ahead, and Packer, who owned around a 37% stake in the company, personally made around US$2.3 billion from the sale. Earlier, in May 2019 he sold about 19.99% of his shareholding in Crown to Melco Resorts & Entertainment for US$1.22 billion.
Packer was born into extreme wealth, the scion of his father Kerry Packer’s media empire, which makes his claim that Andrews “almost ruined my life” something of a stretch.
The billionaire resigned from his executive positions at Crown in 2018, citing mental health issues following his breakup from singer Mariah Carey.
In the ensuing years, Crown was beset by regulatory scrutiny into its business practices, related to allegations it had facilitated money laundering and pursued commercial relationships with junket operators with links to triads.
The company was ultimately found unfit to hold a gambling license in Victoria, New South Wales, and Western Australia.
Deleterious Impact
Packer was criticized during a New South Wales regulatory inquiry for having a “deleterious impact on the governance of Crown Resorts,” even after he stepped down from the board.
Current Victorian Premier Jacinta Allan responded to the comments about Andrews by refusing to call Packer by name, simply referring to the billionaire as “that individual, according to The Age.
At a press conference on Monday morning, she said she strongly disagreed with Packer’s remarks about her predecessor.
Andrews has declined to comment on Packer’s assessment of his character.
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