By Erik Gibbs

Casino

Crown Resorts Might Be Seriously Considering Merger with Star Entertainment

May 17, 2021

It appears that The Blackstone Group is going to have to head back to the boardroom if it wants to make a play for Crown Resorts. After Star Entertainment Group stepped in with a proposal that would see Crown and Star merge, Blackstone tried to sweeten the pot, but it apparently isn’t enough. Crown’s board […]

By Julie Moraine

Casino

Blackstone Safeguards Crown Proposal, Tightens Conditions

April 13, 2021

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 […]

By Erik Gibbs

Casino

Sale of Crown Resorts Appears Ready to Advance, But Maybe Not to Blackstone

April 8, 2021

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 […]

By Mike Johnson

Casino

Blackstone’s Crown Resorts Bid to Face Regulatory Scrutiny

March 29, 2021

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 […]

By Julie Moraine

Casino

Crown Receives AU$6.2B Buyout Offer from Blackstone Group

March 22, 2021

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 […]