Cannery buyout in Las Vegas receives OK

Jan 13, 2009 4:59 PM
Staff & Wire Reports |

Nevada’s Gaming Control Board last week endorsed Australia-based Crown Ltd.’s purchase of Cannery Casino Resorts for $1.8 billion, and recommended approval of licensing for the $700 million M Resort in Henderson.

The state’s Gaming Commission will consider the recommendations its meeting scheduled for Jan. 22.

Crown Ltd. is controlled by James Packer, son of legendary Australian gambler and media mogul Kerry Packer.

"We look forward to the opportunity to be part of the casino industry in Las Vegas and Nevada," James Packer, Crown’s chairman and majority shareholder, told regulators during a brief opening statement.

Crown Chief Executive Officer Rowen Craigie said the company will focus on improving the performance of Cannery through Crown’s experience with various customer initiatives, innovative slot and poker products, and employee development programs.