Tag: Australia

Crown reduces stake in Melco Crown Entertainment by $800m

Meclo Crown Entertainment, Melco, Crown, James Packer
After over 10 years as an equal partner in Melco Crown Entertainment, Crown Resorts has scaled back its investiture in the Asian operator.   Australia’s Crown Resorts has substantially reduced its stake in Asian casino operator, Melco Crown Entertainment (MCE). Crown Asia Investments - a wholly owned subsidiary of the Australian company - announced last month that it would be reduce its...

Aquis relinquishes casino plans

Aquis Australia
The Chinese backers behind the proposed multi-billion dollar Aquis resort on Australia’s Great Barrier Reef has confirmed that it will drop plans to include a major casino element, in order to hasten the property’s prospective opening date. The $8bn (E7.04bn) Aquis Great Barrier Reef resort is being financed by Hong Kong-based father/son duo Tony and Justin Fung. Original plans for...

Media Watch – Las Vegas light rail plans gather pace

Light rail plans
Hitting the industry headlines this month: talks to bring a light rail system to Las Vegas are gathering pace, Crown Resorts has been tipped to operate a major new casino development on Australia’s Gold Coast and Fremont Street pays tribute to Prince. MEDIA WATCH Plans to bring light rail to Las Vegas are moving forward, according to a report in the...

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