Australian casino developer Crown Resorts Ltd and its chairman James Packer (pictured) are pledging AUD200 million (US$187 million) to Australian charities over the next 10 years through the establishment of a new philanthropic foundation.
Crown Resorts will contribute with AUD100 million to the fund, while the Packer family will contribute another AUD100 million, Australian media reported.
The new National Philanthropic Fund, to be announced on Tuesday, will contribute an average of AUD20 million a year to good causes over the next decade.
According to media reports, the fund will focus on improving education for indigenous Australians, assisting community welfare programmes and making artistic endeavours accessible to more Australians.
Crown Resorts is currently expanding its operations in Australia with an eye to attracting high spending Asian tourists, and within Asia via its joint venture Melco Crown Entertainment Ltd.
Crown Resorts is bidding for a new casino licence in Brisbane, Queensland, and already has approval to build a new casino resort called Crown Sydney in the country’s largest city in the state of New South Wales.
His sister, Gretel Packer, will administer the charity fund with former Howard government minister Helen Coonan, who chairs the Crown Resorts Foundation, Australia’s Daily Telegraph newspaper reported.
Mr Packer was quoted as saying donations would be channelled to charities and programmes that are innovative, well-run and capable of providing “lasting social change”.
Mr Packer is co-chairman of Macau casino operator Melco Crown Entertainment.
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”We do not believe that reopening the advance notice nomination deadline [for board directors] is appropriate or justified”
Daniel Boone Wayson
Chairman of the Wynn Resorts board of directors