A recovery in the share price of casino operator Crown Resorts has driven a $505 million net profit for James Packer’s private wealth vehicle.
Consolidated Press Holdings (CPH), which houses Mr Packer’s 37 per cent holding in Crown as well as various properties and other investments, also recorded a near forty-fold increase in revenues to $636 million, in FY21 accounts lodged with the corporate regulator on Tuesday evening.
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Michael Bailey writes on arts and culture, and edits Weekend Fin. He is a former editor of the Financial Review Rich List. He is based in Sydney. Connect with Michael on Twitter. Email Michael at m.bailey@nine.com.au
