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Packer makes another try in Las Vegas

New casino to open in 2018 after Crown Resorts buys site on Strip for US$280m

Published Mon, Aug 4, 2014 · 10:00 PM
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[SYDNEY] Crown Resorts Ltd, the gambling company controlled by billionaire James Packer, plans to open a casino on the Las Vegas Strip after paying US$280 million for a site formerly occupied by the New Frontier casino.

Crown will partner Andrew Pascal, former president of Wynn Las Vegas, to open a resort on the 14 hectare site by 2018, the Melbourne-based company said in a regulatory statement yesterday.

Mr Packer had been in talks with companies whose loans backed the property including Oaktree Capital Group, people with knowledge of the matter said on Friday.

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