Crown Resorts demerger put on ice

Crown Resorts has put the demerger of its Australian and overseas gaming empires on the backburner in the light of the arrests of 18 Crown staffers in Asia.

Australian Financial Review reported that Crown, in which billionaire James Packer’s holding company has a majority stake, has paused its plans to create a separately listed holding company for certain international assets.

The decision to put the demerger on-hold, according to the report, may have something to do with the arrest of 18 Crown staffers in China, which have impinged on the number of VIP gamblers flocking to Australia.

Analysts believe that Crown will wait for the waters to settle before it resumes the process of breaking up the businesses.