"Crown Resorts' new $2.2billion gambling mecca in Sydney's Barangaroo may never open its doors after an independent inquiry found that the James Packer-backed group is unfit to hold a NSW casino licence. Commissioner Bergin said it was obvious that Crown's 36 per cent shareholder James packer exercised the "real power" at the company which had disastrous consequences for the company. Commissioner Bergin recommended NSW put an ownership cap in place so any investor will need the NSW regulator's approval to buy or own more than 10% of a casino operator, opening up the possibility of it ordering Mr. Packer to sell down his stake."

Required:

Identify three corporate governance practices for directors of companies and explain how they would assist in protecting the interests of other stakeholders.

Answer rating: 100% (QA)

Corporate governance practices are designed to ensure that the directors of companies act in the bes... View the full answer