A Revista Cadernos de Cultura e Ciência é de caráter nacional e multidisciplinar, cadastrada com o ISSN 1980-5861.

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por Lavada Lassiter (2019-08-16)

Australian billionaire James Packer has sold almost half his stake in Crown Resorts for $1.76 billion to a Macau-based entertainment company owned by a former business partner.

Consolidated Press Holdings, Mr Packer's private investment company, confirmed on Thursday night it had sold 19.99 per cent of its shareholding in Crown Resorts to Melco Resorts and Entertainment, which is headed by Hong Kong casino mogul and his former partner Lawrence Ho.

It was sold for an aggregate purchase price of $1.76 billion, equivalent to $13 per share.

James Packers says Crown will be a stronger company with Melco as a strategic shareholder

The news comes on the same day Mr Packer was spotted strolling though a Los Angeles park looking relaxed and noticeably trimmer than when he was last seen in public, sparking rumours he has recently undergone weight loss surgery.

Once the share sale is completed, CPH will own about craftsman gle150u1 26 nut genuine original equipment manufacturer oem part for craftsman per cent of Crown, worth about $2.3 billion, and will remain represented on the Crown board.

Mr Packer said Crown was a stronger company with Melco as a strategic shareholder.




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'Crown has been a massive part of my life for the last 20 years and that absolutely remains the case today - my continuing Crown shareholding represents my single largest investment,' Mr Packer said of the deal.

'I am still vitally interested in Crown's success as a world-class resort and gaming business. The sale allows me to continue my long term involvement with Crown and at the same time to better diversify my investment portfolio.'

It deals comes after recent negotiations between Crown and Las Vegas casino giant Wynn Resort fell apart.

Crown sources said they were unaware but not surprised about Mr Packer's plan to sell shares to Melco.

The businessman was spotted strolling through Holmby Park near the UCLA campus in Los Angeles, looking notably trimmer than when he was last seen in public 

'We knew Packer had put Crown in play when Wynn came knocking,'  a source told the Sydney Morning Herald. 

'But I'm not sure that this means he is going to sell out altogether ... and I don't think he will.'

Mr Packer said he was thrilled Mr Ho and Melco have invested in Crown.

The pair were previously business partners in a Chinese casino joint venture in Macau before the 2016 arrest of poulan pro 18 inch 2 cycle gas chainsaw certified refurbished employees for the illegal promotion of gambling.

'Over the last 15 years, Lawrence has built one of the world's leading resort and gaming companies,' Mr Packer said. 

'Melco's award-winning resorts have set the standard internationally and are a testament to Lawrence's vision and efforts. Crown is a stronger company with Lawrence and Melco as a strategic shareholder.' 

Australian billionaire James Packer has sold almost half his stake in Crown Resorts

Mr Ho added: 'I view Melco's investment in Crown as an incredible opportunity to purchase a strategic stake in what I believe to be Australia's premier provider of true integrated resort experiences.'

'Crown's resorts in Perth and Melbourne are world class entertainment destinations and I believe that Crown Sydney, much like Melco's Morpheus property, will create an architectural icon for the city, the country and the world.'

CPH will lodge a Notice of Change in Substantial Holding both craftsman cmcbl760e1 v60 axial blower with cmcst960e1 v60 brushless weedwacker cordless string trimmer with quickwind Crown and the Australian Securities Exchange.

The transaction is expected to finalised by the end of September. 

Mr Packer stepped down from the Crown board last year, citing mental health issues. 

Photos of a much trimmer James Packer (pictured earlier this year) on Thursday sparked rumours that he has undergone weight loss surgery

Mr Packer appeared to be in good spirits as he strolled through the park with a friend near UCLA.

Mr Packer splits his time between Los Angeles and Aspen, Colorado, and plans to continue to live in the US remain close to his ex-wife Erica and three children Indigo, 10, Jackson, 9, and Emmanuelle, 6.

He has praised girlfriend, Canadian-born socialite Kylie Lim, for helping him through though recent tough times following his bitter break-up with pop star fiancée Mariah Carey at the end of 2016. 

Read more:
James Packer sells $1.76b stake in Crown Resorts (ASX:CWN) to Stanley Ho's Melco

ISSN: 1980-5861