Shares in the casino company Crown Resorts have dived after billionaire James Packer sold half his stake to a Macau-based competitor for $1.76 billion.
In the absence of a bidding war, Crown investors have been offloading their shares given that the $13 on offer looks like the best price they might get. A
ABC's Peter Ryan says there are some big questions remain about how gaming regulators might view the deal given ownership restrictions on Crown's Barangaroo casino project in Sydney.
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