Crown Resorts is one of the country's biggest gaming groups, and is 37%-owned by Australian tycoon James Packer. It is defending several claims over the use of junkets (paid-for trips) to. 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. The Crown casino inquiry has heard that for the sale of 19.9% of Crown Resorts, major shareholder James Packer insisted on a $1.7bn deal with Lawrence Ho’s Macau-based Melco Resorts.
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 Australia“The billionaire has already made moves to sell down stock to Wynn Resorts previously'.
The businessman revealed to the inquiry that he has bipolar disorder and is on strong medication that's affecting his memory.
“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.
James Packer Selling Crown Casino No Deposit
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 Australia“The billionaire has already made moves to sell down stock to Wynn Resorts previously'.
The businessman revealed to the inquiry that he has bipolar disorder and is on strong medication that's affecting his memory.
James Packer Selling Crown Casino Buffet
“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.