Executive Jeon Win is the crown partner of the Vegas project

Crown Resorts, in a filing with the Australian Stock Exchange on Monday, said it was linking Andrew Pascal, former president and chief operating officer of Winn Las Vegas LLC, a subsidiary of Winn Resorts, to a proposed Las Vegas project at the northern end of the Las Vegas strip.

News of the plan was first reported on Friday.

The plan will be financially backed by Oaktree Capital Management LP, according to the filing. Oaktree Capital is a minority investor in the Studio City project currently under construction in Macau, which is largely owned by Crown's Macau joint venture, Melco Crown Entertainment.

Crown said in the filing that its new majority-owned subsidiary had acquired 34.6 acres (14 hectares) of land in Las Vegas. The site was officially occupied by the New Frontier Casino.

Mr. Pascal will be the co-chairman and chief executive of the new company.

"I am excited to work on creating something new and fresh for the resurgent Las Vegas market," Mr. Pascal said in a statement accompanying the Crown document.

Referring to Crown's previous attempts to enter Las Vegas, including a plan to acquire Nevada-based operator Canary Casino Resort in December 2007 and shortly before the 2008 global financial crisis, Crown Chairman James Packer said: "Past attempts to enter that market have fallen short, but now we have the ideal opportunity to be a perfect property with a great local partner of Andrew, Oaktree's leading financial investor."

The deal proposed by Cannery closed in March 2009, according to a Crown filing at the time.

BY: 홀짝게임

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