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James Packer’s gamble in Crown Resorts’ international spin-off

June 17, 2016

Australian casino firm Crown Resorts plans to spin-off its international investments, including its underperforming AUD$2.7 billion ($2 billion) interests in the Chinese gaming capital Macau, into a separate listed company.

Former chairman James Packer, son of the late media mogul Kerry Packer, remains the majority controller of Crown Resorts with a 53% stake.

James Packer's Sri Lankan resort development denied casino license

May 1, 2014

James Packer's expansion plans for his resorts business in Sri Lanka have suffered a setback, with the government refusing to grant a casino license for a planned $400-million (€288.3 million) development in Colombo.

Since 2007, the billionaire – a third gen of the Australian media dynasty behind Consolidated Press Holdings – has been moving away from his family's traditional interests to focus on developing his casinos and resorts company, Crown Limited.

Pressure mounts against planned Packer casino

November 12, 2013

Sri Lanka’s main opposition party has called for police to take legal action against James Packer, saying his family business, Crown Limited, doesn’t have the proper license to go ahead with its plans to build a $400 million (€335 million) casino in Colombo.

Harsha de Silva, a lawmaker for the United National Party, said police had been cracking down on small time casinos and should be applying the same law to big players like Packer.

Macao's casino giant sees growth

March 30, 2011

Galaxy Entertainment, the casino, entertainment and leisure conglomerate controlled by the Lui family, announced on 30 March that its revenues for 2010 rose by 58% year-on-year, but its net profits declined by 22% due to offloading of debt.