The former AFL boss was sprung reading from notes as he gave evidence on Monday by video link to the inquiry, which is investigating whether Crown should run a new Sydney casino.

Mr Demetriou's notes, which he said he prepared himself, were taken into evidence by the inquiry.

His questioning coincided with Crown alerting the ASX that Victoria's gaming regulator had issued it with a show-cause notice over compliance issues relating to junket operators.

Mr Demetriou was quizzed on the sharing of confidential information with major shareholder James Packer, even after the latter man stepped down from Crown's board. He said the billionaire was a "visionary" who acted in the best interests of all shareholders.

Mr Demetriou emailed Mr Packer after one board meeting, recounting his message to the board that the company could become "the most regulated business in Australia" but it risked becoming "timid ... like the Australian cricket team".

Mr Demetriou said Mr Packer was a former chairman and a significant shareholder, and sharing information was a way to keep Mr Packer's advice forthcoming, which would be "important for his benefit, as well as from the perspective of his mental health".

Mr Packer told the inquiry last week he stepped down as a Crown director because he was struggling with bipolar disorder.

The inquiry was prompted by media allegations that Crown casinos were used for money laundering and organised crime.

Mr Demetriou blamed the compliance culture of Crown Resorts for failures that led to the 2016 arrest of staff in China and accusations they had breached local laws by luring Chinese to gamble in Australia.

Mr Demetriou, who has sat on Crown's board since 2015, told the inquiry the company's risk management processes were good but important information was not escalated to the board.

"That is not a failure of our processes, but it speaks more of a failure of culture," Mr Demetriou said. He insisted those cultural problems had been rectified.

At times inquiry commissioner Patricia Bergin appeared frustrated with Mr Demetriou's reluctance to concede the public company had serious problems.

Mr Demetriou repeatedly refused to agree that Crown turned a blind eye to money laundering.

Ms Bergin said "one of the problems you face" was that accounts alleged to have been used for money laundering remained open even after the inquiry was announced.

Mr Demetriou said chief executive Ken Barton would lead a review into the problems with the company's culture of compliance, but there was no plan to look at the history of the organisation as a whole.

"We were a very good organisation. We run a very large and complex business employing 18,500 people. You don't win the Australian Employer of the Year three times unless you are running a fine business," he said.

"In some aspects we've proven to be deficient, particularly in the areas this inquiry has looked at. But it's not to say we don't run a very fine business in other areas."

Mr Demetriou resisted questioning about the independence of the company's directors.

Crown shares finished trading on Monday down two per cent to $8.80.

Mr Demetriou's evidence is due to continue on Tuesday.

Australian Associated Press