James Packer has no immediate plans to pursue casino license in Japan

Oct 26, 2017 9:11 AM

Crown Resorts director and largest shareholder James Packer has revealed in a wide-ranging interview with an Australian newspaper, that he has no immediate plans to pursue a casino license in Japan. Packer believes it’s unrealistic to consider the company a contender and that he doesn’t want management “distracted” by the possibility.

He also told The Australian newspaper he regrets the arrests of 19 Crown employees in China last year and the company missteps that scuttled his plans to build a Las Vegas casino/resort and the huge debt ultimately that forced Crown to split with Melco Resorts.

Packer, 50, said it was the company’s growing debt, rather than the China arrests, that prompted Crown’s Macau exit as well as the dispersal of land on the Las Vegas Strip to be used for the ill-fated Alon project.

“In Vegas I should have owned the Cosmopolitan,” he said. “It was a great deal, but unfortunately we didn’t do that deal and bought the land next to Wynn instead. Packer says advisers talked him out of $1.5 billion purchase of the Cosmopolitan property, adjacent to MGM’s CityCenter on The Strip, thus losing out on a valuable asset for Crown.