Austrialian Gambling Networker, James Packer is making headlines again. This time. He is focusing on Crown Casino.
Media Man Enterprises reporter, Greg Tingle states: “Australia’s James Packer looks to be on the upswing again. Face to face appearances with Sir Richard Branson, social gatherings and another potential investment into Las Vegas. Maybe some of Branson’s positive can do attitude has rubbed off on our James when they chatted in Melbourne last month. I can tell you from first hand experience that Branson’s positive attitude pretty infectious. He helped us go from 3 websites to 7 in the world financial recession period no less! Recently Branson was quoted, ‘What recession?’, so perhaps Packer may of the same sort of thinking.”
“One can bet that Packer would be keen to regain some of this financial wealth back which was halved in the past one year plus. One would think that if there are still some true casino ‘whales’ left they would frequent Las Vegas of of course Macau, where Packer just happens to be pushing along Crown Macau and The City Of Dreams.”
It appears as though Mr. packer has set his sights on the CityCenter in Las Vegas which is currently under great debate with its Dubai Investors and the MGM Mirage.
As stated in the Wall Street Journal, “Mr. Packer, whose Melbourne-based gambling company, Crown Ltd, has large casinos in Australia and China, is discussing the possibility of an investment in the project with Colony Capital LLC, a Los Angeles-based investment firm, according to this person. Colony and Crown “would step in and take over the funding requirements. The idea is to keep City Center going,” said the person, who is close to discussions.”
As of late, Dubai World has invested $4.3 Billion into the City Center Construction, but has stopped making payments as of March of 2009. In order to not lose the property, MGM Mirage has put up an staggering $200 Million to keep the banks from taking it away.
