Crown and Packers launch new fund

Billionaire James Packer and his sister, Gretel have joined forces with Crown Resorts to launch a $200 million National Philanthropic Fund.

Billionaire James Packer.

The announcement was made by Gretel Packer, the chair of the Packer Family Foundation, in Melbourne this morning.

“I am delighted to launch the National Philanthropic Fund. 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,” said Gretel at Crown Towers.

The new fund, which will made distributions for 10 years, will give $100 million to ‘eligible charities’ promoting the arts under the National Arts Fund.

The other half will come under the Community Partnerships and Indigenous Education Fund, which will be donated to charities supporting indigenous education and the broader community.

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“Today’s announcement commits us to another decade of financial support for organisations which work tirelessly to deliver services, assistance and opportunities for people from disadvantaged backgrounds. I would like to congratulate and thank my sister Gretel for being the driving force behind the establishment of this Fund,” said Crown Resorts’ Chairman, James Packer.

The Crown Resorts Foundation Board and the Packer Family Foundation Board together will run the National Philanthropic Fund, chaired by The Hon. Helen Coonan and Gretel Packer. Roslyn Packer AO, Harold Mitchell AC and Malcolm Turnbull’s wife, Lucy Turnbull AO are also involved.

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