Packer<\/a>, the aim was to bring Chinese VIPs over from places like Macau and give them a new place to gamble.<\/p>\nHowever, with a general downturn in the Asian gambling economy and the further assumption that such a market no longer exists, investors now appear reluctant to gamble on Crown’s venture.<\/p>\n
Concerns Over Crown’s Risk<\/b><\/h2>\n
While credit analysts are becoming increasingly concerned about the viability of the project, former Wynn Resorts executive and a member of the team behind the project, Andrew Pascal, maintains that things are progressing as planned.<\/p>\n
“We are currently in the cycle of raising our capital, and the project has been well received. While the macro-economic environment, particularly in Asia, is a bit turbulent, we remain confident in our capacity to complete our financing and execute our project,” said Pascal.<\/p>\n","protected":false},"excerpt":{"rendered":"
James Packer’s Las Vegas gamble might end up costing him more than he anticipated after investor interest in his Alon project hit a new low. Crown Resort’s Alon project is set to cost $1.9 billion and will bring a new casino and hotel complex to the Vegas strip, but things aren’t going as smoothly as […]<\/p>\n","protected":false},"author":42,"featured_media":33290,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13,18],"tags":[],"acf":[],"yoast_head":"\n
Crown Resorts' Vegas Project a Risky Gamble for Packer<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n