James Packer’s investment in Macau sees huge growth.
James Packer the multi billionaire owner of Crown in Australia says that his investment in Macau casino operator Melco Crown Entertainment is now worth $6.2 billion from an initial investment of $600 million.
At an annual general meeting in Sydney, the Co-Chairman of Melco Crown Entertainment said the company was among the biggest Australian joint ventures in China along with partner of Melco Lawrence Ho.
However back in Australia the Crown Ltd executive chairman said gaming revenue at the company’s two Australian operations was in line with last year, due to difficult trading due to the economic situation, analysts were expecting Crown to remain constant with 2012 results.
The development by Crown in Sri Lanka has been put on hold due to the political situation in the country, where the government was accused of being too generous with tax breaks for casino resorts.
