James Packer has been making headlines recently with his philanthropic projects. Earlier this year, he promised to donate $10 million to cultural projects in Japan, where he plans to open a new casino resort. Now, he is making plans to donate locally with a new Australian philanthropic foundation. The new National Philanthropic Fund has been set up by James and his sister Gretel.
Their fund will offer $200 million to charities that promote the arts and support the broader community. It will be split evenly between each type of organisation. "This exciting collaboration between Crown Resorts and our family creates a platform from which to contribute towards strengthening communities in Australia and developing our artistic future," Gretel says.
The decision to launch the fund comes at an ideal time for Crown Resorts, as the company is in the planning process of a controversial new high-roller casino in Barangaroo. Responsible gambling advocates have expressed concerns that the new casino will contribute to rising problem gambling rates in Sydney and across the country.
The new fund demonstrates that Crown Resorts and James Packer are dedicated to the social and cultural development of the country. It could be seen a move to offset the potential harms of opening up a new casino in an already saturated gambling market. Several local organisations have been named as likely beneficiaries.
The Salvation Army, the Bob Maguire Foundation and the National Centre of Indigenous Excellence are all in the running for generation donations from the Packers’ National Philanthropic Fund. The Packer siblings hope that their actions will inspire other large corporations and companies to follow suit.
It would certainly benefit the local community if more billion-dollar companies were to donate their money to a good cause.
About the Author
