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Business 15 Jun 2017 | 12:00 AM

Media moguls’ TV bet sours as Ten Network faces insolvency

SYDNEY: Even having Lachlan Murdoch and billionaire James Packer in your corner isn’t enough to save you these days.

Business 10 May 2017 | 12:00 AM

Crown exits decade-long Macau venture

HONG KONG: Casino billionaires Lawrence Ho and James Packer have said their last adieu to a decade-long gaming partnership in Macau, with each going in opposite directions.

Corporate News 06 May 2017 | 1:45 PM

Australian media shakeup could provide huge M&A opportunity

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.

Property 01 May 2017 | 3:11 AM

Tech billionare buys Sydney mansion for record US$56mil

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.

Business 28 Apr 2017 | 12:00 AM

Fate of Australian TV network Ten in hands of billionaire trio

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.

Business 16 Dec 2016 | 12:00 AM

Packer reins in casino empire plans after China crackdown

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.

Corporate News 18 Oct 2016 | 12:00 AM

Detentions at Crown Resorts spur China crackdown fears

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.

Corporate News 17 Oct 2016 | 7:33 AM

China detains staff from Australia's Crown for 'gambling crimes'

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.

Business 28 Jun 2016 | 7:49 AM

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Corporate News 28 Jun 2016 | 6:13 AM

Crown wins approval for Sydney casino aimed at Asian 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.