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Watchdogs Approve $8.9b Crown Takeover
Gaming regulators in Victoria and NSW have approved Blackstone's $8.9 billion takeover of Crown Resorts, pushing the proposed sale of the James Packer-backed operator a step closer to completion.
The purchase by the US private equity giant now requires regulatory approval from authorities in Western Australia, the third state where Crown's casinos are located. The deal would then need to be ratified by the Federal Court.
Blackstone is one of the world's biggest private equity firms, boasting a diverse portfolio ranging from food and to casinos.
Crown, along with rival Star, has been subjected to numerous inquiries that have found widespread failings, including poor practices that are designed to protect against money laundering.
The purchase by the US private equity giant now requires regulatory approval from authorities in Western Australia, the third state where Crown's casinos are located. The deal would then need to be ratified by the Federal Court.
Blackstone is one of the world's biggest private equity firms, boasting a diverse portfolio ranging from food and to casinos.
Crown, along with rival Star, has been subjected to numerous inquiries that have found widespread failings, including poor practices that are designed to protect against money laundering.
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