Justin Chin
James Packer’s Crown Resorts has capped off an annus horribilis by canning its Las Vegas casino project and agreeing to sell a portion of its shares in Macau operator Melco Crown back to joint venture partner Lawrence Ho.
Crown said it had agreed to sell 198 million Melco Crown shares to Melco International Development, the vehicle controlled by Mr Ho, the son of gambling pioneer Stanley Ho, which represents 13.4 per cent of the company.
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Read the full article at: http://www.afr.com/business/gambling/james-packers-crown-resorts-cans-las-vegas-casino-sells-melco-stake-20161214-gtbiby