James Packer’s sell-down of his Macau interest and plan to de-merge his Australian and international casino assets may be indicative of his withdrawal from the Asian gaming hub, says Howard Klein, a consultant for the US gaming industry.
“My view is that James has elected to take a step back now as something of a hedge bet. In classic Packer mode, he’s taking chips off the table until the cards turn favorable,” Klein said.
Earlier this month, Melco Crown said its revenue missed the mark in the 2016 second quarter at $1.07 billion, falling short of analyst estimates of $1.09 billion.
Revenues represented a 17 percent increase from $916.8 million for the second quarter of 2015.