Crown Resorts as acquired a 20% stake in international restaurant and hotel company Nobu with James Packer set to join the company board as one of four directors.
Entities associated with Robert De Niro, Nobu Matsuhisa and Meir Teper will continue to own the remaining 80%.
Crown chairman Rob Rankin described the Nobu brand as “complementary” to Crown Resorts’ own global luxury positioning.
“The Nobu business has an attractive near-term growth profile, with a number of new restaurant and hotel openings planned,” he said.
There are currently Nobu restaurants in Crown Melbourne and Crown Perth with a Nobu Hotel in City of Dreams – Manila.
“James Packer established Crown’s relationship with Nobu some years ago,” Rankin said. “This acquisition cements that existing strong relationship.”