Australia

May 30, 2012

For sheer audacity, nothing surpasses Packer’s casino play

For sheer audacity, nothing compares with James Packer’s extraordinary decision to requisition an EGM of Echo Entertainment group shareholders to remove John Story and install his old mate Jeff Kennett.

Stephen Mayne — Journalist and Founder

Stephen Mayne

Journalist and Founder

After the mining and poker machine industries, aided by the Murdoch press, comprehensively pole-axed tax and regulatory reforms proposed by the Rudd-Gillard governments, Australia has entered into a strange Russian-like phase of crony capitalism.

Every other day there seems to be a new development as a small number of billionaires oligarchs use political and media connections to further their vested interests.

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10 comments

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10 thoughts on “For sheer audacity, nothing surpasses Packer’s casino play

  1. Michael de Angelos

    Look- I would welcome a new casino and James taking over Star if it means that they will become like the TV advert with the man at the grand piano gliding through a vista of fashionably dressed clientelle- the sophistication is a joy.

    As it is, Star looks like it does in the advert, the customers wear jeans , thongs and shorts.

  2. klewso

    Enticing Kennett – like some fiddler crab – “Beyond Blue” – wasn’t there some connection there?
    “Gambling – problems – depression”? Aren’t there dots there somewhere too?

  3. zut alors

    What a rogues gallery you have lined up for us today, Stephen. An unattractive, manipulative and venal gaggle.

  4. Peter Bayley

    Unfortunately, I really don’t think there’s anything left that us ordinary mortals can do. The Big End has become significantly bigger right through the GFC they caused. All Western democracies are now for sale to some extent. The heads of large corporations are now immune from the depredations of their shareholders, the majority of which are mindless financial institutions. A large percentage of voters are easily and effectively conned by media fear-mongering and rabid political negativism – the rest have simply turned off.

    The whole house of cards needs to be torn down and rebuilt from the ground up, but that’s not likely to happen soon while the control at the top is so profitable.

    The only recent differences I see are in the scale of the malfeasance now in play and in the arrogance-through-apparent-immunity of the players. Sorry to be so negative but that’s the way I see it.

    Otherwise, it’s been a great and productive day, thank you very much.

  5. oldsalt

    “THERE IS A WIND from Tatary which blows the spoors of
    decadence across the world. In palaces ferociously isolated from
    reality languid Sultans conjure wicked and fantastic abstractions
    affecting the concrete destinies of millions. Trained houris, forever
    nibbling and sucking at their masters’ private parts, confirm them in
    their illusion of absolute authority. ”
    – Michael Moorcock – Byzantium Endures. The old master of chaos must be loving these times.

  6. Microseris

    Im with Klewso. Kennett is a monumental hypocrite. Chairman of Beyond Blue but still happy to personally profit from shafting those unfortunate fools addicted to gambling.

    An arrogant tool as premier and he has learnt nothing with the passage of time.

  7. Salamander

    Anyone who invests in gambling is a moral writeoff in my view. No idea how Bitar or Kennett can face themselves in the morning. Satire is the answer.

  8. AR

    It is beyond disgusting that gambling is treated as if it is a glamorous pleasure dome where everyone gets magic ponies. Tough luck for the kids.

  9. Bill Hilliger

    This latest effort confirms that Jeff Kennett is just a main chancer with little or no morals.

  10. Bill Hilliger

    Oh! I forgot, a main chancer of the Liberal Party persuasion. There is a familiar ring about it all when you look at some Canberra Liberal politians past and present.

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