Las Vegas Sun NewsCasino titan says Las Vegas court ruling could scare away foreign investors
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28 November 2012
5:45 p.m.
Australian billionaire James Packer and his casino company say they got a raw deal from a Las Vegas judge and they want the Nevada Supreme Court to make things right. Packer and his company Crown Ltd. are also complaining that the judge's recent ruling against them involving a Las Vegas investment is so egregious that it could deter other foreigners from investing in Nevada. The ruling involves the stalled $2.9 billion Fontainebleau casino resort on the Las Vegas Strip. Crown is already smarting from the loss of its entire $279 million minority investment in Fontainebleau Las Vegas. The problems for ...
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Packer is right. He had nothing to do with the overruns and whatever coverup happened as a result. The Supreme Court should fix this egregious error.
Given Packer and his sisters ability to spend or lose the vast fortune their father earned nothing should surprise anyone. I disagree until there is an actual finding of facts regarding the cost over runs and who had knowledge of them Packer should not be released form any potential liability.
Packer has made many mistakes in Las Vegas one of the bigger ones was his association with Cannery Casinos.
There is always China, ask Rio Tinto execs in jail there what kind of legal climate they have there.