Packer snaps up another 3% of Crown, page-41

Interesting theory and avoiding a capital raising would be loved by the market. However, as a co-owner of Crown how is selling strategic casino assets on China's doorstep at the bottom of the market a good thing? It is frustrating because for JP it is great - he gets Macau cheap - the largest projected gaming market by far, and Crown gets some cash to avoid his dilution. What about the other 47% of shareholders? Exactly. If they need to, they need to but, it concerns me Packer would be taking Crown's LT strategic edge, ie Chinese culture's huge apetite for gambling, cheap for himself and others IMO.