James Packer folds up Japan integrated resort plans

Australian billionaire James Packer is no longer pursuing his dream to build a multi-billion dollar integrated resort in Japan.

This is according to The Straits Times, which reported that Crown Resorts is no longer interested in expanding to the Japanese casino market and instead chose to focus on developing a flagship Sydney casino.

Crown Resorts is undergoing restructuring as a result of the relentless Chinese crackdown that has prevent VIP high rollers from gambling.

The Australian-listed company sold the last of its stake in Melco Resorts & Entertainment in May, as Packer and Chinese billionaire Lawrence Ho said their last adieu to a decade-long partnership in Macau. Packer said leaving Melco is part of the casino operator’s restructuring program.