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Lawyers representing a company owned by James Packer are set to address an inquiry into Crown Resorts’ suitability to run a new $2.2 billion Sydney casino.

The Barangaroo premises, slated to open in mid December, is under a massive cloud because of the NSW Independent Liquor and Gaming Authority probe.

Lawyers representing Consolidated Press Holdings, which holds a 36.8 per cent stake in Crown, will address the inquiry on Wednesday.

The regulator is reportedly set to meet with Crown on November 18 to discuss whether to push back, or put conditions on, the casino’s opening.

Lawyers assisting the inquiry have previously argued Crown is not fit to hold the Barangaroo licence due to its poor culture, lack of risk management procedures and links to dodgy junket operators.

In concluding her final submissions on Monday, counsel assisting Naomi Sharp said evidence across the hearings had shown Crown had an “arrogant indifference” to regulatory compliance.

“(There is a) culture of denial and an unwillingness to examine past failings. And … a culture which has prioritised the pursuit of profit above all else,” she said.

Counsel assisting Scott Aspinall said transactions uncovered during the hearings showed Crown was either ignorant or apathetic about the money laundering risks involving two subsidiary companies.

“It’s open for you to find that money laundering did occur,” he told inquiry commissioner Patricia Bergin.

He said money was moved through companies Southbank and Riverbank from 2014-17 by “smurfing”, a process of splitting up money in smaller deposits to avoid detection.

There were also examples cash was deposited anonymously to those companies, he said.

ANZ in 2014 raised “red flags” with Crown about Southbank and Riverbank and eventually shut down their accounts with the bank.

Mr Aspinall said Crown failed to properly investigate why, and the problems persisted for years.