Tax office wants extra $362m from James Packer's Crown Resorts

James Packer's Crown Resorts say it will fight a demand from the Australian tax office for an additional $362 million.

Crown's troubles in China have paved the way for a potential class action for shareholders. (AAP)

James Packer's Crown Resorts is disputing a $362 million bill from the Australian Taxation Office.

Crown, which is majority-owned by billionaire Mr Packer's Consolidated Press Holdings, says it has received amended tax assessments from the ATO in respect of income tax paid for the financial years ending June 30, 2009 to 2014.

The assessments relate to the tax treatment of some of the financing for Crown's investment in Cannery Casino Resorts in the US and other investments in North America.

"Crown is a significant taxpayer in Australia and disputes the amended assessments," Crown said in a statement on Monday.

"Crown considers that it has paid the correct amount of tax and intends to pursue all available avenues of objection (including, if necessary, court proceedings) to the amended assessments."

Crown on Monday initially released a statement in which it said the ATO was seeking $250 million from the casinos operator.

However, it later on Monday said it had received an additional notice of penalties to the amount of about $112 million, bringing the total claimed by the tax office to $362 million.

Cannery Casino Resorts operates casinos aimed at locals and regional residents.

It owns the Cannery casino and hotel in north Las Vegas and the Eastside Cannery casino and hotel in Las Vegas.

It also owns the Meadows racetrack and casino in Washington County, Pennsylvania.

Crown holds a 24.5 per cent stake in Cannery.

In fiscal 2015, Crown did not receive any profits or recognise any earnings from Cannery and wrote down the value of its Cannery investment to nil, resulting in a $55.9 million impairment charge.

In 2009, Crown substantially wrote down its investment in Cannery and other investments in US casino groups, citing that the investments in North America had been ill-timed.

In March 2009, Crown abandoned a $US1.8 billion deal to acquire Cannery, which would have been its first full acquisition of a casino operation in the US.

Shares in Crown were 28 cents higher at $11.50.