New Crown Resorts shareholder, Lawrence Ho, insists his business is independent of his father Stanley, who is prevented from having dealings with Crown under its NSW casino agreement, and says he is willing to increase his stake in the Australian casino giant.

But Crown shares fell 3 per cent to $12.55 on Friday, as investors digested the news that Mr Ho had purchased a 19.99 per cent stake from the company’s major shareholder James Packer at $13 a share, well below the $14.75 price implied during takeover talks between Crown and US casino giant Wynn Resorts.