Gaming billionaire James Packer plans to unlock up to $4.5 billion in shareholder value and turbo-charge the Crown Resorts dividend yield with a blockbuster restructuring package that will blow away his critics.
In one fell swoop, Packer will put an end to suggestions that he has lost interest in his Australian gaming business, while at the same time addressing governance concerns raised by prominent fund managers.
Crown Resorts will be broken into three separate pieces: Crown Australia; Crown International and, possibly, Crown Property Trust. Each one of these measures has the potential to significa…
Read the full article at: http://www.afr.com/brand/chanticleer/james-packer-responds-to-critics-with-a-45-billion-turbocharger-for-crown-resorts-20160615-gpjxd9