James Packer's Crown Resorts has moved to allay investor concerns over its balance sheet by using the entire $1 billion proceeds from its sell-down in Melco Crown Entertainment to ease its debt load.
Crown sold down part of its stake in the Macau-focused casino operator in early May for $US800 million ($1.08 billion) as a precursor to the proposed spinoff of its international operations including Melco, announced last Wednesday.
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Perry Williams writes on business from our Sydney newsroom, specialising in gaming and resources. Connect with Perry on Twitter.
