Casino Won’t be Taking Stake in Las Vegas
Project - 5th April 2009
Australia's Crown Casino has denied
media reports that it plans to take a stake in
the troubled City Center development in Las Vegas.
Wall Street Journal this past week quoted an unnamed
source as saying Crown was considering investing
in the project.
US$8.6 billion development is owned by MGM Mirage
and Dubai World. Las Vegas and MGM in particular
have been especially affected by the recent economic
Greg Tingle, praised Crown Casino bigwig James
Packer for the positive news that has come out
of his camp of late.
can bet that Packer would be keen to regain some
of this financial wealth back which was halved
in the past one year plus," Tingle told Gambling911.com.
"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."
Limited (ASX:CWN) is an Australian gaming and
entertainment company established in 2007 that
owns Australia's Crown Casino Complex.
Limited was formed on December 17, 2007 when Publishing
and Broadcasting Limited (PBL) split into two
new companies. Crown Limited acquired all of the
gaming interests while Consolidated Media Holdings,
the renamed PBL retained all of the remaining