Company to split gaming and media arms
23rd November, 2007
Almost 100% of voters agreed to the move to split the company up into 2 companies as they plan to target gaming markets in Asia and North America.
Packer, the largest shareholder, the company chairman and also Australias richest man supported the decision of the Sydney based company.
The move will give almost $2 billion (AUS) to the shareholders and frees up almost $3 billion to spend on gaming acquisitions. The company is already in talks to buy an asset in north America although the name and price are still under wraps.
