James Packer has sold almost half his stake in Crown Resorts for $1.76 billion to a Macau-based entertainment company. The inquiry was called last year after media allegations against Crown and James Packer’s decision to sell 19.9 per cent of his Crown shares to Hong Kong businessman Lawrence Ho. But the deal has since been scrapped, with Mr Ho selling out of his stake in Crown. SYDNEY (AFP) - Australian billionaire James Packer has sold nearly half his stake in Crown Resorts casinos to Hong Kong gambling mogul Lawrence Ho for A$1.8 billion (S$1.8 billion), their. Crown Resorts Ltd. Billionaire James Packer has endured blow upon blow for more than three years: a bruising clash with Chinese authorities and at least two aborted deals with suitors.
Australian businessman James Packer might have to sell down an interest in the casino for Crown to retain the licence and be able to operate it, says Sky News Political Editor Andrew Clennell.
Mr Packer has faced an inquiry into Crown Casino which has investigated allegations of money laundering and links to organised crime.
“Having fought so hard to get Sydney's second casino built and approved by the NSW government, it does look like no matter what the inquiry into the license finds, Packer will be selling,” Mr Clennell said.
© Provided by Sky News AustraliaAustralian businessman James Packer might have to sell down an interest in the casino for Crown to retain the licence and be able to operate it, says Sky News Political Editor Andrew Clennell.
Mr Packer has faced an inquiry into Crown Casino which has investigated allegations of money laundering and links to organised crime.
“Having fought so hard to get Sydney's second casino built and approved by the NSW government, it does look like no matter what the inquiry into the license finds, Packer will be selling,” Mr Clennell said.
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Crazy fruits slots free. “The billionaire has already made moves to sell down stock to Wynn Resorts previously'.
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The businessman revealed to the inquiry that he has bipolar disorder and is on strong medication that's affecting his memory.
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“His mental health troubles means he just wants to get out of the limelight .. just an extraordinary situation given the lobbying efforts of five years ago to get that casino built,' Mr Clennell said.