James Packer Crown Limited has denied rumours that it is setting up for a possible sale of it’s stake in Macau casinos. Only recently posting a profit of $115 million, Crown Limited has come out stating that it aims to set up a strong position in the Chinese gambling enclave and plans to take full advantage of the prospering Chinese economy. Crown Limited has a 32 percent ownership of Melco Crown Entertainment which operates Altira Macau and City of Dreams.

Crown limited is still recovering from major write downs of up to $1.7 billion after several acquisitions of US casinos turned to disaster at the opening of the US recession. Crown’s Australian properties in Melbourne and Perth continue to prosper with high rollers turning over a record $23.4 billion in six months.

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