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James Packer eyes $1.7bn Crown payday

Perry WilliamsSenior Reporter
Updated

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Gaming tycoon James Packer could boost the value of his stake in his Crown Resorts empire by up to $1.7 billion should investors back a radical break-up of the casino empire sparked by frustrations over its low market valuation.

A 13 per cent surge in Crown shares on Thursday has handed the company a market capitalisation of $9.3 billion, but sources close to the company say its break-up could add a further $4 billion to its overall value.

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Perry Williams writes on business from our Sydney newsroom, specialising in gaming and resources. Connect with Perry on Twitter.

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    Original URL: https://www.afr.com/companies/games-and-wagering/packer-eyes-17bn-crown-payday-20160616-gpknp1