Business
James Packer’s flagship crunched, but wealth still up – The Australian Financial Review
The billionaire’s main Australian company had a terrible financial 2020 but things are looking better now.
Despite that lingering uncertainty, the reopening of Crown’s other casinos has helped its share price recover to $9.75 by 1pm on Tuesday.
That is enough to add $200 million to Mr Packer’s 2020 Rich List fortune of $4.69 billion, which had dropped from 2019’s $4.9 billion because CPH’s expected poor performance from Crown’s slump had already been factored in.
Total assets at CPH, which only represents a part of Mr Packer’s empire, rose to $8.83 billion in financial 2020 from the year-earlier $8.01…
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