Macau gaming is growing increasingly important to Kerry Packer's flagship Publishing and Broadcasting Limited (PBL) - and the billionaire's death is unlikely to slow the company's investment in the industry.
Mr Packer's son and heir apparent, James, 38, has been the moving force behind a multibillion-dollar partnership launched last year between PBL and Macau casino magnate Stanley Ho Hung-sun's Melco International Development.
Melco, headed by Mr Ho's son Lawrence, controls 60 per cent of the Macau venture, which includes four existing slot-machine cafes, the 227-room Crown Macau, which opens late next year, and the $8 billion casino resort City of Dreams, scheduled to open in 2008.
'I was deeply saddened when James told me about his father's passing,' Lawrence Ho said yesterday. 'James Packer is an extremely capable businessman and leader who is ready to take the reins. James has been involved and most supportive of the Melco/PBL venture from day one. Therefore, we don't think anything will change.'
James Packer has described the venture as PBL's most exciting opportunity.