Chanticleer

‘Ups and downs’: Packer’s emotional farewell to Crown (and the ASX)

Crown’s reform efforts and Blackstone’s perseverance have allowed James Packer to walk away from the mess at Crown Resorts with a handsome payday.

Jun 24, 2022 – 4.06pm

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For all the heartache that casino giant Crown Resorts has caused James Packer in the past few years, it was pride that dominated the billionaire’s emotions as Blackstone’s takeover of Crown officially ended his 24-year connection with the company.

“There have been ups and downs and challenges, but today’s final sale to Blackstone is confirmation that we have built one of the country’s best tourism, entertainment and leisure companies, and I am extremely proud of that,” Packer said on Friday.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.