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October 24, 2014

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Billionaire James Packer seeking return to Las Vegas

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AP Photo/Paul Miller

James Packer is executive chairman of Publishing and Broadcasting Limited and Australia’s richest person.

Bloomberg reports that Australian billionaire James Packer is plotting his return to Las Vegas after losing almost $2 billion during the 2008 credit crisis from ill-timed North America casino investments.

Packer, chairman of Australia’s Crown Resorts Ltd., is in talks to develop a Las Vegas Strip resort on land once occupied by the New Frontier after buying a piece of a loan backed by the property, according to people with knowledge of the matter.

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