Crown buys Vegas site for $US280m

James Packer makes long-awaited play for Las Vegas with assistance of Oaktree Capital.

Crown Resorts (CWN) is set to expand into Las Vegas after confirming the purchase of a vacant site for approximately $US280 million ($A300.46), in partnership with distressed debt investor Oaktree Capital.

The 34.6 acre site on Las Vegas Boulevard was formerly occupied by the New Frontier casino and was acquired through a foreclosure auction, Crown said.

Crown chairman James Packer said the group has "always kept our eye on Las Vegas".


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