Posts Tagged ‘US casino’

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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