Australian casino mogul takes second chance on north Strip with Frontier site deal

Posted on by & filed under RCG News Room.

By Eli Segall – Las Vegas Sun

Australian casino mogul James Packer took a bath on the Fontainebleau, sinking hundreds of millions of dollars into the doomed Las Vegas resort that now sits blighted and unfinished. But that didn’t turn him off from the north Strip — especially when there’s a bargain to be had. Packer, the billionaire chairman of Crown Resorts, has teamed with former Wynn Resorts executive Andrew Pascal and investment giant Oaktree Capital Management to acquire a controlling stake in the vacant 34.6-acre former New Frontier site, just north of Fashion Show mall, with plans to build a resort there. (READ THE FULL ARTICLE)