Casino
April 13, 2021
Blackstone Safeguards Crown Proposal, Tightens Conditions
Australian casino operator Crown Resorts announced conditions for the proposed buyout of outstanding shares by Blackstone Group have been modified to include safeguard against possible loss of operating licenses before the deal is complete. Regulatory Approval Condition Last month, the private equity giant which already holds a 9.99% stake at Crown Resorts acquired from Melco […]
Casino
April 8, 2021
Sale of Crown Resorts Appears Ready to Advance, But Maybe Not to Blackstone
Once a reining giant in Australia’s casino market, Crown Resorts has found itself spiraling downward the past couple of years. The casino operator has acknowledged it made a series of missteps, including not preventing money laundering at its properties, and is facing scrutiny across the country. As the saga continues to unfold, Crown’s board has […]
Casino
March 29, 2021
Blackstone’s Crown Resorts Bid to Face Regulatory Scrutiny
NSW’s gambling regulator boss, Philip Crawford, has said that Blackstone will face extensive regulatory scrutiny in its bid for Crown Resorts. Blackstone to Face Regulatory Scrutiny Blackstone’s $8 billion takeover bid for Crown Resorts should be coming to a successful close as the investor seems hell-bent on making this one work. Yet, challenges abound. The newest one comes from […]
Casino
March 22, 2021
Crown Receives AU$6.2B Buyout Offer from Blackstone Group
Troubled Australian casino operator Crown Resorts received a buyout offer from Blackstone Group Inc, the company revealed Monday declining to comment further on the unofficial bid. Price Discovery Crown’s second-largest shareholder Blackstone offered AU$11.85 per share bringing the total valuation to AU6.2 billion, but when the news hit the wires Crown’s shares jumped more than […]