James Packer has stepped down as a director of Crown Resorts. However, he is still Crown’s controlling shareholder and the architect of the group’s ambitious expansion strategy.
It’s not clear whether James Packer will pull together a privatisation offer for his 53 per cent-owned Casino group, Crown Resorts, but it is easy to work out why he would be considering it. Crown is at a stage where the risks it is taking may well be best handled behind closed doors.
Packer vacated the chairmanship of Crown in August in favour of Rob Rankin, a former Deutsche Bank executive who a few months earlier had taken over as chief executive of Packer’s ma…
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