{"id":147,"date":"2024-06-16T13:59:09","date_gmt":"2024-06-16T10:59:09","guid":{"rendered":"https:\/\/vegas2web100freespins.icu\/2024\/06\/16\/blackstone-makes-6-billion-bid-for-crown-resorts\/"},"modified":"2024-06-20T17:02:53","modified_gmt":"2024-06-20T14:02:53","slug":"blackstone-makes-6-billion-bid-for-crown-resorts","status":"publish","type":"post","link":"https:\/\/vegas2web100freespins.icu\/2024\/06\/16\/blackstone-makes-6-billion-bid-for-crown-resorts\/","title":{"rendered":"Blackstone Makes $6 Billion Bid for Crown Resorts"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/DS228xW1XBU\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Blackstone Offers $6 Billion Bid for Crown Resorts<\/p>\n<p>The Australian casino powerhouse, Crown Resorts, has attracted a takeover proposal from the US private equity behemoth, Blackstone, amounting to $8 billion AUD (equivalent to $6.18 billion USD).  This proposition, valuing Crown at $11.85 per share, signifies an almost 20% increase compared to the company&#8217;s recent share price performance.<\/p>\n<p>Blackstone, already possessing a stake of approximately 10% in Crown Resorts, is well-acquainted with the realm of high-roller gaming and entertainment.  The firm&#8217;s portfolio boasts numerous properties in Las Vegas, encompassing legendary establishments such as the Bellagio and MGM Grand.<\/p>\n<p>This offer arrives at a juncture when Crown is endeavoring to overcome a string of controversies and regulatory hurdles.  The company has acknowledged that it will thoroughly evaluate the proposition, but the ultimate determination lies with James Packer, who maintains a controlling 37% ownership in Crown.<\/p>\n<p>Industry experts appear to suggest that an agreement with Blackstone could serve as the much-needed rescue for Crown to navigate its present difficulties, potentially mitigating some of the primary concerns highlighted in the Bergin Report, a scathing investigation into the company&#8217;s operations. <\/p>\n<p>While the agreement between Crown Resorts and CPH has dissolved, with CPH appointees departing Crown&#8217;s governing body, Fitch Ratings experts suggest Australian regulatory bodies would favor a full CPH divestiture from Crown.  Such action would permanently sever the link between the entities, a move likely perceived favorably by regulators. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blackstone Offers $6 Billion Bid for Crown Resorts The Australian casino powerhouse, Crown Resorts, has attracted a takeover proposal from the US private equity behemoth, Blackstone, amounting to $8 billion AUD (equivalent to $6.18 billion USD). This proposition, valuing Crown at $11.85 per share, signifies an almost 20% increase compared to the company&#8217;s recent share [&hellip;]<\/p>\n","protected":false},"author":38,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blackstone Makes $6 Billion Bid for Crown Resorts \ud83e\udd11<\/title>\n<meta name=\"description\" content=\"US private equity giant Blackstone has offered a whopping $6 billion to acquire Australian casino operator Crown Resorts. 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