Keep calm investors, billionaire James Packer isn’t pulling out Crown Resorts Ltd. from the Australian Stock Exchange anytime soon.
On Wednesday, a Reuters source doused speculations that the world’s No.7 casino company will become private following Packer’s exit in March.
Packer had been toying with the idea of taking the Crown Resorts private since he first quit the $6.7 billion company in 2015. However, Packer set aside the idea as the company decided to expand Crown’s business portfolio overseas.
A lot of things happened in between 2015 and 2018, including Packer’s complete retreat from Asia and the company’s global expansion plans as a result of the arrests of Crown Resorts staffers in China. By early 2018, Packer found himself back in Crown board—and so is the idea to make Crown Resorts private.