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James Packer

June 17, 2016

Australian casino firm Crown Resorts plans to spin-off its international investments, including its underperforming AUD$2.7 billion ($2 billion) interests in the Chinese gaming capital Macau, into a separate listed company.

Australian casino firm Crown Resorts plans to spin-off its international investments, including its underperforming AUD$2.7 billion ($2 billion) interests in the Chinese gaming capital Macau, into a separate listed company.

Former chairman James Packer, son of the late media mogul Kerry Packer, remains the majority controller of Crown Resorts with a 53% stake.

August 14, 2015

James Packer steps down as chairman of Crown Resorts; Chey Tae Won receives pardon from president; and Cargill to expand agriculture business in Mexico

James Packer steps down as chairman of Crown Resorts

Australian billionaire James Packer has stepped down as chairman of Crown Resorts amid an earnings slump at the casino group.

According to a statement, the 47-year-old will instead take on the role of senior executive director and plans to focus on the group’s global expansion.

July 24, 2014

The daughter of the late Australian media mogul Kerry Packer has said her parents were the inspiration behind an AU$200 million charitable fund, launched by the family this week.

The daughter of the late Australian media mogul Kerry Packer has said her parents were the inspiration behind an AU$200 million (€140 million) charitable fund, launched by the family this week.

Gretel Packer, head of the family’s foundation, announced the National Philanthropic Fund will distribute $20 million yearly for the next decade.

The charitable fund will distribute half its money to indigenous education and community welfare, with the remainder going towards the arts.

May 1, 2014

James Packer's expansion plans for his resorts business in Sri Lanka have suffered a setback, with the government refusing to grant a casino license for a planned $400-million (€288.3 million) development in Colombo.

James Packer's expansion plans for his resorts business in Sri Lanka have suffered a setback, with the government refusing to grant a casino license for a planned $400-million (€288.3 million) development in Colombo.

Since 2007, the billionaire – a third gen of the Australian media dynasty behind Consolidated Press Holdings – has been moving away from his family's traditional interests to focus on developing his casinos and resorts company, Crown Limited.

November 12, 2013

Sri Lanka’s main opposition party has called for police to take legal action against James Packer, saying his family business, Crown Limited, doesn’t have the proper license to go ahead with its plans to build a $400 million (€335 million) casino in Colombo.

Sri Lanka’s main opposition party has called for police to take legal action against James Packer, saying his family business, Crown Limited, doesn’t have the proper license to go ahead with its plans to build a $400 million (€335 million) casino in Colombo.

Harsha de Silva, a lawmaker for the United National Party, said police had been cracking down on small time casinos and should be applying the same law to big players like Packer.

September 6, 2013

Following in the footsteps of another Australian media mogul, Rupert Murdoch, Consolidated Press Holdings third-gen James Packer has announced his divorce from his wife, Erica Baxter.

Following in the footsteps of another Australian media mogul, Rupert Murdoch, Consolidated Press Holdings third-gen James Packer has announced his divorce from his wife, Erica Baxter.

The couple were married in the French Riviera in 2007, in a ceremony attended by members of the Murdoch family, as well as movie star Tom Cruise, among others.

In a statement released to media on Friday, Packer said the couple remained close friends and that their three children would be their priority moving forward.

October 29, 2012

It’s been a case of winning some and losing some for family businesses across the globe, through a series of acquisitions, closures and deal-breakers.

It’s been a case of winning some and losing some for family businesses across the globe, through a series of acquisitions, closures and deal-breakers.

Leading the way is media group Bertelsmann, controlled by the Mohn family, which is linking up with UK rival Pearson.

The agreement will see the merger of Random House and Penguin, respectively the publishing arms of Germany’s Bertelsmann and Pearson.

June 20, 2012

Australian billionaire James Packer, majority owner of Consolidated Media Holdings, is looking to cut his ties with the media business, founded by his great-grandfather, by selling his shares to fellow family-run News Corporation.

Australian billionaire James Packer, majority owner of Consolidated Media Holdings, is looking to cut his ties with the media business, founded by his great-grandfather, by selling his shares to fellow family-run News Corporation.

Following an offer of AUS$3.50 (€2.81) per share by News Corp, CMH said on 20 June that it will “engage constructively” with Murdoch family-controlled media conglomerate.

September 8, 2009

James Packer, the Australian media and casino owner, has resigned from the board of Challenger Financial Services Group following the sale of his 20% stake in the company on Friday

James Packer, the Australian media and casino owner, has resigned from the board of Challenger Financial Services Group following the sale of his 20% stake in the company on Friday.
 
Packer (pictured) raised AUD$400 million in the sale that is his third asset sale in a month. The move fuelled speculation he is building up funds in order to ward off any potential takeover bids for his family business Consolidated Media Holdings (CMH).

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