Casino operator Crown Resorts is exiting the Las Vegas market, selling its 35-acre parcel of prime real estate on the Las Vegas Boulevard, The Australian reports. The operator purchased the parcel of land back in 2014 with plans to develop the $2.5 billion Alon Las Vegas project. However, Crown announced in December last year that […]
James Packer’s Crown Resorts has had trouble raising the financing needed to help build its planned $1.9 billion hotel-casino complex in Las Vegas, according to Credit Suisse. In a research report, gaming analyst Larry Gandler said Crown Resorts, which owns 74 percent of Alon, was looking to finance the resort by reducing its stake to […]
The summer of 2015 will go down in the history books as a starkly turbulent period for China. The Asian powerhouse’s economy has stumbled, with trillions of dollars wiped off Chinese shares after a series of stomach-churning plunges.Yet despite these economic woes, analysts don’t expect the outbound investment, which has been targeting hotel and leisure projects across the globe, to take a significant knock.