Meeting at French Caribbean it fueled speculation even more James Packer, main shareholder Crown Resorts, looking for a way out of the company, wanting to earn a living 36% shares in the casino and hotel operator.
Multimillion yachts moored side by side
James Packer celebrated New Years Eve on board yours worth $ 200 million great boat AND EATbut another 92-meter boat was moored right next to his boat Queen Miri, owned by Las Vegas casino tycoon Sheldon Adelson, and this meeting on the boat sparked rumors that an agreement regarding the Australian's stake in Crown Resorts.
Given the top of the hassle it has fallen on Crown Resorts after an investigation in New South Wales (NSW) on the suitability of a casino license, selling its share may be the only viable option for Packer, a Adelson he is certainly someone who is always looking to increase the value of his multi-billion dollar empire.
The crown in cold regulatory waters
Also, the new Crown Casino Resort nearby Sydney, Fr. worth $ 2.2 billion Australian he was forced to start operations without his core, the casino VIPbecause Independent Beverage and Gaming Authority (ILGA) ordered a delay to February 1When the final investigation report was submitted, the results of the investigation attracted unwanted attention from regulators to other properties of the company Crown.
Despite the fact that Victoria Commission for Gambling and Liquor Regulation (VCGLR) stated that it did not intend to act solely on the recommendations of the investigation, and to wait until the final report was submitted, the regulator in Victoria decided to extend by 2 years Crown's gaming license in state and seventh the review is currently awaiting the appointment of a special session commissioner to lead it.
Previously, also influenced by the results of the NSW investigation, Australian Transaction Reports and Analysis Center (AUSTRAC) initiated an investigation into the transaction Crown Resorts with people about high net worth (HNWI) and politically exposed persons (PEP)to impose further suffering on the casino operator. At the time, the investigation looked in detail at Crown's junk partners allegedly linked to Chinese organized crime, including Suncity.
China decided to cut off access to its inhabitants
However, the most serious blow to the business plan Crown Resorts for her casino resort Crown Sydney came from the Chinese authorities as the country has recently burdened all the organizations' efforts to travel outside its borders by enacting legislation by amending the law even on 10 years in prison for violations.
The move successfully eliminated garbage and limited Crown's supply to Chinese high-rollers, leaving her to fight for compensation from the local gambling market. The change of law also affected another participant in the alleged meeting, Sheldon Adelson, due to its high exposure to the Macau gambling market.
LVS has influenced the materials, wants to sell the properties of the tape
The implications of the coronavirus epidemic for the global casino industry did not make it through a Forbes 2020 Billionaire Top 30 member, and the casino giant owned by the tycoon released a disappointing third-quarter earnings report, but Adelson's chairman and CEO and his management team maintained their optimistic tone in the industry recovery schedule.
Optimism is one thing, realism is another, and it was soon speculated that it would Sheldon Adelson he wanted to unload all the real estate Las Vegas Sands (LVS) Strip looking around $ 6 billion from a potential buyer. Later, some game analysts hinted that the proposal would not be without interest by tossing Caesars Entertainment and Golden Nugget Tilman Fertitta as ordinary suspects.
Sheldon Adelson he has repeated many times in the past that his company has always sought to buy value, and if a deal with Packer has been discussed, it remains to be seen whether his and Packer's business assessments have found common ground.