• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Crown raising US$305 mln to finance expansion

Mar 17, 2015 Newsdesk Latest News, Top of the deck, World  


Crown raising US$305 mln to finance expansion

Casino operator Crown Resorts Ltd is planning to raise AUD400 million (US$305 million) through the sale of subordinated notes to finance new projects. The notes will be listed on the Australian Securities Exchange (ASX) and the offer should open on March 25, the company said in a filing on Tuesday.

The proceeds will be used for general corporate purposes “including financing Crown Sydney, Crown Towers Perth and other anticipated growth projects,” the firm added, referring to new infrastructure projects.

The notes are due for repayment in April 2075, though Crown has the right to redeem the debt any time from 2021.

Crown, controlled by billionaire James Packer, is a joint venture partner in the Macau and Philippines casino operator Melco Crown Entertainment Ltd.

Crown’s development commitments spread across Australia, Asia and the United States. The casino operator has ambitions to move into Las Vegas, where it acquired a site in August last year and plans to invest about US$1.9 billion in a new casino resort.

In Australia, Crown is part-way through constructing a new hotel (pictured in a rendering) at its Perth casino resort, with targeted completion by December 2016. It has also committed to building an AUD1.5 billion casino at Barangaroo, a regeneration zone on Sydney’s waterfront.

The company has also entered a tender for a new casino in Brisbane, in partnership with Chinese property developer Greenland Holding Group Co Ltd.

In Tuesday’s filing, the firm said the planned issue of new notes follows the successful sale of subordinated notes in September 2012.

“Crown has an exciting pipeline of future development projects that will enhance Crown’s position as one of the leading operators of integrated resorts globally,” Ken Barton, chief financial officer of Crown, said in a statement.


  • tweet
Related articles
  • Casino at Australia’s Crown Sydney to open on Aug 8
    Casino at Australia’s Crown...

    Jul 26, 2022  

  • Carruthers leaving Wynn Macau in Sept, named Crown CEO
    Carruthers leaving Wynn Macau in Sept,...

    Jul 07, 2022  

More news
  • Covid entry tests for mainlanders to Macau, except Zhuhai
    Covid entry tests for mainlanders to...

    Aug 09, 2022  

  • SOFTSWISS affiliate platform Affilka opts for cost-per-lead
    SOFTSWISS affiliate platform Affilka...

    Aug 09, 2022  


Latest News

Covid entry tests for mainlanders to Macau, except Zhuhai

Covid entry tests for mainlanders to Macau, except Zhuhai

Aug 09, 2022  

Starting from 1am on Tuesday (August 9), most travelling directly by air or sea to Macau from mainland China are required to take a nucleic acid test (NAT) upon arrival, plus another such test within...
Read More
SOFTSWISS affiliate platform Affilka opts for cost-per-lead

SOFTSWISS affiliate platform Affilka opts for cost-per-lead

Aug 09, 2022  

SOFTSWISS Sportsbook offering iFrame function

SOFTSWISS Sportsbook offering iFrame function

Aug 09, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”I believe it will take more than the offered concession term, 10 years, to see an appreciable increase in inflows of tourists [to Macau] from countries outside the existing tourist catchment areas”

David Green

Gaming and governance consultant at Newpage Consulting



Most Popular

  • More biz from foreigners hard for Macau casinos say expertsMore biz from foreigners hard for Macau casinos say experts August 8, 2022
  • Court tells Philippine AML body end bank heist cash freezeCourt tells Philippine AML body end bank heist cash freeze August 8, 2022
  • Bloomberry 2Q net income more than doubles q-o-qBloomberry 2Q net income more than doubles q-o-q August 8, 2022
  • Microchip lack felt by slot makers says MGEMA boss ChunMicrochip lack felt by slot makers says MGEMA boss Chun August 5, 2022
  • Japanese get visa-free S.Korea entry for August: reportJapanese get visa-free S.Korea entry for August: report August 4, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us