Blackstone invests in the gaming industry again and buys shares of casino operator CROWN RESORTS

Blackstone has purchased Melco Resorts' stake in Australian casino operator Crown Resorts, which is equivalent to nearly 10% or $ 360 million.

On Wednesday, Australian company Crown Resorts reported that the US firm Blackstone Group had repurchased all of its shares held by Macao's casino operator Melco Resorts & Entertainment, raising share prices. Crown has reported that a Blackstone-controlled entity had purchased about 67.7 million of its Melco shares.

Due to the drop in the number of travelers due to the restrictions imposed to contain the coronavirus, Melco abandoned its plan to buy a second stake of 9.99% in Crown.

Since then, Crown's stock has fallen about 28.1% according to the latest balance. Travel restrictions to Australia reduced the number of casinos and have prevented the visit of Chinese VIP tourists. In addition, in recent times national players have spent less.

After the announcement, Crown's shares rose 12.3%, their highest level since March 6.

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