Australian Billionaire, James Packer, to Build Tallest Casino on the Strip

James Packer, the son of the late Australian billionaire, Kerry Packer, is planning to make his casino on the strip the tallest building in the US at 1,888 feet, which would be 400 feet taller than the Sears Tower and 750 feet taller than the Stratosphere Tower. Although the FAA has said that the project is a "presumed hazard", one of Mr Packer's partners, Texan property developer Chris Milam said in December 2006 that he dismissed concerns about breaching any height regulations. "As far as the FAA is concerned, any building over 200 feet tall within a five-mile radius of (Las Vegas airport) is determined by regulation to be a hazard to air navigation," he said. He believes that they will get the FAA authorization. The project, Crown Las Vegas, would be located on the 27 acre Wet'n'Wild property next to the Sahara Hotel. The plans for the 142 story building would include 5,000 rooms and 250,000 square feet of casino space and 625,000 square feet of shops, restaurants and convention area. This will be Packer's second investment in Las Vegas. Through his company, Publishing and Broadcasting, he has bought a 19.6 percent interest in the Fontainebleau which will be located next door to the Crown Las Vegas.

John Laub is the President of the CEO-CFO Group.

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3. "James Packer." Wikipedia, the Free Encyclopedia. August 8, 2007.