Publishing & Broadcasting Ltd's new strategy

Rowen Craigie, Publishing & Broadcasting Ltd's gaming leader is retreating from the daily administration of the Crown and Burswood casinos to center on a multibillion-dollar development overseas.

Market analysts believe that PBL could spend about $5.5 billion on casinos abroad and is probable to center his attention on the Las Vegas strip in the US, the gaming market in Britain and on the promising markets like Russia or Malaysia.

PBL has a $3 billion in net cash profits from the sale of a half share in its media possessions and forecasters sustain that it could borrow $2.5 billion more without considerably disturb its equilibrium sheet.

Mr. Craigie will lead a new global business development group, at Crown Casino in Melbourne. Rob Turner, Crown Casino chief financial officer, will join the new group as executive vice-president.

David Courtney, the Burswood leader, will come back to Melbourne to become the CEO of Crown Casino. He will be replaced by Barry Felstead the actual Burswood's COO.