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Wynn, Las Vegas Sands Tumble on China s Casino Crackdown

Packer Gets Crown Exit Path With $2 3 Billion Oaktree Offer

Packer Gets Crown Exit Path With $2.3 Billion Oaktree Offer Bloomberg 1 hr ago Angus Whitley © Bloomberg Billionaire James Packer, co-chairman of Melco Crown Entertainment Ltd., attends a news conference at Melco s Studio City casino resort in Macau, China, on Tuesday, Oct. 27, 2015. (Bloomberg) James Packer has a potential new exit path from troubled casino operator Crown Resorts Ltd. after Oaktree Capital Management LP offered to help Crown fund a purchase of the billionaire’s shares. Popular Searches Oaktree has offered as much as A$3 billion ($2.3 billion) in financing for the deal through a “structured investment,” Crown said Monday. According to the proposal, Crown would use the funds to buy some or all of Packer’s 37% stake in Crown.

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