Gaming billionaire James Packer looks set to walk away with about $3.3 billion in cash and end a 20-year involvement with the Crown Resorts gaming business, as a result of Crown board’s nod to Blackstone’s $8.9 billion takeover offer.

Packer is likely to stick with the position he revealed to Chanticleer in March last year and back the Crown board’s conclusion that the Blackstone offer is “in the best interests of Crown shareholders”.