Packer-owned Venue Set For Expansion

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Australian billionaire James Packer has revealed the next stage of his ambitious plans to take an even stronger hold of the country's casino industry.

Mr Packer, who has switched his focus from media assets to the gaming industry in recent years, has confirmed that his Crown Casino firm is to build a new hotel at the Crown Towers Perth hotel.

The casino firm acquired the Crown Towers Perth hotel in 2004 and with the creation of a new hotel on the same site, Crown's investment in the venture is set to exceed the $1 billion mark.

An agreement over the acquisition of the new land where the hotel will be built has been reached with the Australian government.And it has been confirmed that the new venue is to be fitted with 500 gaming machines and as many as 130 additional tables.

Mr Packer is, of course, already the most influential player in the Australian gaming market and this latest move will only increase his power base.