Crown Casino troubles continue
Rumours have been rising that James Packer’s Crown Casino in Melbourne is in trouble. The Crown Casino troubles follow the arrest of fourteen Chinese workers during 2014. Many Chinese high rolling gamblers have since avoided the casino.
Last week there were reports of a large scale lay-off of staff. Today, shares have been crashing as a possible cash flow crisis looms at the casino.
There also reports that James Packer’s Crown Casino will have to offload hundreds of millions of dollars worth of assets. Those assets include three luxury jets, luxury yachts, a golf club and the Packers classy Hunter Valley property. Waning interest from Chinese high rollers continues to been blamed.