Tag Archives: James Packer
- James Packer-backed investment firm bets big on casino rival The Star
July 17, 2017
Casino mogul James Packer has successfully wormed his way back into Australian casino operator The Star Entertainment Group, signaling the end of a four-year-old rivalry. In a regulatory filing to the Australian Stock Exchange, The Star announced that investment company Ellerston Capital has increased its stake in the company to...
- Lawrence Ho slams Crown for aggressive China marketing
May 31, 2017
Macau casino boss Lawrence Ho has criticized his former joint venture partner James Packer’s company Crown Resorts for its aggressive marketing to high-rolling gamblers in China. In an interview with the Financial Times published late Tuesday, the Melco Resorts & Entertainment CEO said the 18 Crown staffers arrested last October...
- James Packer abandons Las Vegas casino dream
May 22, 2017
Australian casino mogul James Packer is hanging his Las Vegas casino dream out in the open with a multi-million price tag. The Australian reported that Packer’s Crown Resorts Ltd. has formally abandoned plans to construct a casino in the world’s most famous gambling strip by putting his Las Vegas land...
- Crown Resorts to cut debt with proceeds from Macau exit
May 10, 2017
James Packer’s Crown Resorts is punting on the proceeds from selling its remaining stake in Melco Resorts and Entertainment to help reduce the company’s debt. If you’re just joining us, the Australian casino operator announced early this week that it had decided to end its decade-long international joint venture operations...
- Crown Resorts VIP pleads guilty to $125k chip theft
March 21, 2017
A high-rolling gambler has pled guilty to stealing $125k worth of casino chips from a Crown Resorts VIP room. Last December, Australian police filed charges against Gunawan Akay, a 38-year-old gold-class member at Crown Melbourne’s Maple Room for high-rollers. The casino operator's high-quality CCTV footage had fingered Akay as the...
- Aussie regulators size up Crown Resorts’ financial strength
March 20, 2017
Australian gambling regulators have placed casino operator Crown Resorts’ financial strength under the microscope as its license undergoes under a review. The scrutiny from gambling regulators comes three weeks after the Australian-listed firm began restructuring its business, including an aggressive cost-cutting program following a sharp decline in its VIP gambling...
Melco Crown preps rebirth as Melco Resorts & Entertainment
March 17, 2017