{"id":606,"date":"2019-09-08T04:10:46","date_gmt":"2019-09-07T18:10:46","guid":{"rendered":"https:\/\/uberpokies.org\/?p=606"},"modified":"2019-09-09T04:11:32","modified_gmt":"2019-09-08T18:11:32","slug":"crown-casino-troubles-result-in-melco-not-buying-james-packers-shares","status":"publish","type":"post","link":"https:\/\/uberpokies.org\/crown-casino-troubles-result-in-melco-not-buying-james-packers-shares\/","title":{"rendered":"Crown casino troubles result in Melco not buying James Packer\u2019s shares"},"content":{"rendered":"
Lawrence Ho, CEO of Melco resorts has backtracked on plans to purchase Crown casino shares; this decision was taken against the recent backdrop of the casino being subjected to a public investigation and scandal, over alleged illegal activities.<\/p>\n
Ho, a prominent Hong Kong businessman was set to purchase James Packer\u2019s shares of the crown casino, planning to expand his portfolio beyond the borders of his home country. The ongoing investigation seems to have soured his interest and Melco have put their plans on hold, pending the outcome of the investigation.<\/p>\n
Melco have indicated that a total cancellation of the trade is also possible, should the investigation result in an unfavourable decision for Melco and Crown casino.<\/p>\n
These revelations came to light on Wednesday and are just a small part of the fallout as a result of the investigation, led by a number of media companies within Australia. The investigation uncovered that Crown casino\u00a0was involved with junket companies that are backed by Asian crime gangs and Chinese foreign influence agents<\/strong>.<\/a> This triggered a secondary investigation by the\u00a0NSW\u00a0Independent Liquor and Gaming Authority.<\/p>\n