James Packer's Publishing and Broadcasting Ltd is poised to apply for a gaming licence in the US state of Nevada, an essential precursor to the opening of his flagship Crown casino in Las Vegas in four years. On Thursday the company announced it had bought a stake in a Las Vegas venture that has building approval for the world's second-tallest tower.
(Bloomberg) -- James Packer's Publishing & Broadcasting Ltd., Australia's biggest casino owner, invested in its second Las Vegas development, accelerating its push into North America. The Crown Las Vegas will be built next to Fontainebleau Resorts LLC's USD 2.8 billion casino and hotel development, Publishing & Broadcasting said in a statement today. The Sydney- based company bought a 19.6 percent stake in Fontainebleau last month.
His father was a whale, one of the biggest Las Vegas gamblers of all time. Now James Packer wants to go one better by claiming a slice of casino action in NYC. Mr Packer's Crown Gaming is negotiating to become the casino partner of Australia's Capital Play consortium, one of four groups battling for the 20-year rights to operate horse racing at New York's three premier racetracks, Belmont Park, Aqueduct and Saratoga.
The Adelaide casino could soon be on the auction block, with James Packer's Publishing & Broadcasting Ltd likely to be the only bidder after New Zealand gaming company SkyCity Entertainment Group announced it would sell businesses that were not keeping up. Gaming industry players Tabcorp and Tattersall's are believed to be unlikely to bid for the Adelaide casino.
James Packer unveiled his latest AUD 700 million casino hotel at a lavish party for 1700 guests in the Chinese gambling mecca of Macau. Crown Macau, the newest foreign addition to Macau's thriving gambling industry cost USD 583 million (AUD 706.88 million) to build, and features a 36-storey tower with 216 hotel rooms, 220 gaming tables and 500 slot machines.
As James Packer prepares to showcase his first international casino venture - the AUD 760 million Crown Macau casino - on Wednesday, his biggest rival, Las Vegas Sands, has dismissed the threat of competition. "I've got to tell you, we really don't take Crown and its location and its product very seriously," said Las Vegas Sands executive vice-president Brad Stone of the six-star casino.
James Packer's Publishing & Broadcasting Ltd., Australia's biggest casino owner, agreed to buy gambling venues in Canada for CAD 1.37 billion (USD 1.2 billion) in its first foray into North America. Packer, Australia's richest man, joined with Macquarie Bank Ltd. to buy Gateway Casinos Income Fund, a casino operator in Western Canada, for CAD 886 million, according to a statement today.
