Crown going solo in Japan


Australian casino developer Crown Resorts Ltd. is said to be planning to use the funds gained from removing its remaining 11.2 per cent stake in Melco Resorts & Entertainment Limited to invest in the Japanese market, according to a report in The Australian newspaper.
Citing a source from Crown Resorts, the report states the company owned by James Packer is focusing on looking for corporate partnerships in Japan, while seeking business opportunities in the Japanese city of Yokohama.
Having previously stated the proceeds from the sale would be used to reduce the company’s bet, this would represent a solo venture by Crown Resorts into the Japanese market after a previous expected collaboration with Melco Resorts was terminated following the share buy-back by Lawrence Ho’s company this week.