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Australia's Crown buys Cannery Casinos

12 Dec 2007

MELBOURNE, Australia -- As reported by the Associated Press: "Australia's largest casino company, Crown Ltd., said Wednesday it has agreed to buy privately held Cannery Casino Resorts LLC for $1.75 billion, expanding its business in Las Vegas.

"Cannery Casino operates three Las Vegas casinos, including the Cannery Hotel & Casino and the Nevada Palace Casino, and the Meadows Racetrack & Casino in Pittsburgh.

"Earlier this month, Crown split from James Packer's Publishing & Broadcasting Ltd. after investors endorsed a plan to split PBL's gambling assets and media businesses into two separately listed companies..."

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