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Blackstone and Star Entertainment Group rivals to buy Crown Resorts

Blackstone and Star Entertainment Group rivals to buy Crown Resorts

Australian casino operator Crown Resorts recently received two major offers for a potential takeover after being investigated for money laundering.

INFOPLAY

2021/5/11

According to Bloomberg, Blackstone has improved its initial offer of two months ago and would pay 8.36 billion Australian dollars. Meanwhile, the Star Entertainment group is proposing a merger that would create an Australian gaming and entertainment giant with a market value of A $ 12 billion ($ 9.4 billion).

It should be noted that as we published in April 2020, Blackstone bought Melco Resorts' stake in the Australian casino operator Crown Resorts, which means that it already owns about 10% of the company, after an investment of 360 million dollars. .

The board evaluates both offers: an immediate profit (Blackstone’s cash offer) or the potential long-term benefits (Star Entertainment Group).

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