Australia
Blackstone Group Buys 9.99% Stake in Crown Resorts

Melco Resorts and Entertainment has sold its 9.99% stake in Australia’s Crown Resorts Ltd to Blackstone Group, the US-based investment company. Blackstone purchased a total of 67,675,000 shares at a price of US$5.32 per share.
The sale of Melco’s 9.99% stake, acquired from James Packer’s CPH Crown Holdings Pty Limited last June, comes in the midst of a public inquiry into the acquisition by the NSW Independent Liquor & Gaming Authority, currently postponed due to COVID-19.
The inquiry, launched last August and running since January, had been looking into a range of issues surrounding the transaction, including whether Crown remains a suitable person to retain its restricted gaming license for its AU$2.2 billion Crown Sydney development, due to open in 2021, and whether the disposal of shares to Melco Resorts constitutes a breach of the license or any other regulatory agreement.
Melco originally acquired the 67,675,000 shares last year at a price of US$8.49 per share.
-
Asia6 days ago
Digital gaming disruption tackled in 1st AsPac Regulators’ Forum
-
Compliance Updates7 days ago
SOFTSWISS Releases Gambling Regulation Directory for iGaming Operators
-
Compliance Updates7 days ago
Alternative Dispute Resolution (ADR) Role and Certification
-
Asia7 days ago
iRace Media extends partnership with The Hong Kong Jockey Club in Asia
-
Latest News7 days ago
Is Horse Racing Betting Still Popular In Europe?
-
Latest News7 days ago
DeepDive launches AI platform to strengthen Enhanced Due Diligence for gaming operators’ anti-money laundering effortsÂ
-
Press Releases7 days ago
7777 gaming strengthens emerging markets presence with PlaylogiQ partnership
-
Africa6 days ago
BetKing Renews Ikorodu City FC Partnership for 2025/26 NPFL Season