Business
December 2, 2022
Blackstone Sells Off All Stakes in MGM Grand and Mandalay Bay
Blackstone Real Estate Income Trust, Inc. (BREIT) made an official press release announcing the upcoming sale of its remaining MGM Grand Las Vegas and Mandalay Bay Resort stakes. VICI Properties, which currently owns a 50.1% interest, will acquire the remaining 49.9% interest in the joint venture for a cash consideration of roughly $1.27 billion. VICI […]
Business
May 24, 2022
Crown Resorts’ $6.5B Acquisition Pending Final Court Hearing
Australian land-based casino operator Crown Resorts announced in a filing with the Australian Securities Exchange (ASX) today that it has filed materials conccerning the proposed acquisition by Blackstone with the Federal Court of Australia. Final Court Hearing Date Pending Last week, Crown Resorts shareholders voted to almost unanimously approve the proposed transaction by way of […]
Business
April 27, 2022
Blackstone Set to Wait Three More Weeks to Take Over Crown Resorts
Blackstone’s takeover of Crown Resorts has been delayed due to the fact that the private equity company needs to make a case with Australian regulators that it is fit to be in control of the casino operator. As a result, Blackstone will have to wait additional 3 weeks to receive the necessary approvals. The Company […]
Industry
February 14, 2022
Blackstone to Acquire Crown Resorts for $6.5 Billion
Crown Resorts announced that it entered into an implementation deed under which its shares will be acquired by Blackstone Inc. for AU$13.10 per share. Blackstone, Crown Resorts Enter Into Implementation Deed Crown Resorts, one of Australia’s largest entertainment groups and a leading casino operator, announced on Monday that it entered into an implementation deed with […]
Casino
September 27, 2021
MGM Resorts Agrees to $1.6B Cosmopolitan Operations Purchase
MGM Resorts signed a definitive agreement with Blackstone to acquire the operations at The Cosmopolitan of Las Vegas for $1.625 billion in cash, the casino company announced today. Buy the Operations, Rent the Property The price of the transaction that is expected to close in the first half of 2022, subject to regulatory approvals and […]