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SYDNEY: Even having Lachlan Murdoch and billionaire James Packer in your corner isn’t enough to save you these days.
SYDNEY: Australia proposed scrapping media ownership restraints on Saturday which could raise huge interest among moguls looking for acquisitions, especially in its ailing, third-largest free-to-air television network, Ten Network Holdings.
SYDNEY: Tech billionaire Scott Farquhar has bought a Sydney waterfront mansion for an Australian record Aus$75 million (US$56 million), a report said Monday, after the owners resisted selling the 1863-built home to developers.
SYDNEY: Ten Network Holdings’ survival depends on three billionaire debt guarantors, including News Corp co-chairman Lachlan Murdoch, after Australia’s third-largest TV network reported a A$232mil (US$173mil) half-year loss in a weak advertising market.
SYDNEY: Casino billionaire James Packer scrapped plans for a gambling empire spanning the world’s largest gaming markets after a clampdown by authorities in China and unpredictable returns in Macau.
HONG KONG: Casino shares fell as Macau operators pulled staff from China after the country detained employees of Australia’s Crown Resorts Ltd, the latest sign of the government’s clampdown on foreign companies trying to woo its citizens to gamble overseas.
SYDNEY: Australian casino giant Crown Resorts Ltd said on Monday China had detained 18 of its employees including three Australians, sending gaming stocks tumbling on concerns about their strategy for luring Chinese gamblers.
SYDNEY: Australian mogul James Packer won approval on Tuesday for a towering six-star hotel and casino complex on Sydney harbour aimed at Asian high-rollers, with work expected to begin shortly.