Australian billionaire casino owner wants to enter Chinese market with film production firm RatPac Entertainment.
James Packer has his eyes set on making a mark in China, with the intention of opening a film production company in the lucrative land. In order to achieve his new ambitions, Packer and his business partners are planning to work alongside one another to reach that goal.
Packer wants to enter the Chinese market with his RatPac Entertainment firm, as Chinese gambling laws still do not allow casinos in the country. He is assured that the firm will experience profound success, considering China’s booming business in the film production industry.
The Australian billionaire believes that China’s box office results will become bigger than the US result in 10 years’ time. His plan is to heavily focus on delivering Chinese content that will appeal to millions of nation’s customers.
Partners with strong backgrounds
Gambling news reports that Packer will partner up with Chinese partner Lawrence Ho and fellow Australian Kerry Stokes. Ho, is the son of prominent casino magnate Stanley Ho, while also establishing a reputation himself for being a running a successful casino firm known as Melco Group.
Stokes on the other hand made his name in the utility business. He serves as the executive chairman of the Seven Group Holdings, a company that has WesTrac in its portfolio, while claiming a stake in the Agriculture Bank of China.
Both men are very experienced and greatly familiar with the Chinese market, therefore making a move with the film production plan appears to be a winning formula.