James Packer seeking new US casino acquisitions

James Packer has raised almost $769 million selling private assets according to a citigroup analyst.  Packer sold a 21% stake in manager challenger Financial Services Group, a $50 million office building and the families Australian cattle ranches for $425 million.  What he is going to invest in is unclear at the moment but certainly looks likely to be a US casino acquisition.

Las Vegas has had a very bad time financially so Packer can pick up some great investments for very cheap there.  Las Vegas has seen a drop of 15% in casino revenue in the 12 months up until June according to the Nevada Gaming Control board.

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This entry was posted on Tuesday, September 8th, 2009 at 8:37 am and is filed under casinos.

One Response to “James Packer seeking new US casino acquisitions”

  1. Packers casinos need beds to get them out of debt Says:
    February 26th, 2010 at 6:44 pm

    [...] James Packer seeking new US casino acquisitions [...]

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