Australia's Crown Resorts said Monday that China had released all of the casino group's employees who were detained as part of a gambling crackdown last year. - AFP/file
SYDNEY: Shares in Australian casino operator Crown Resorts Ltd tumbled on Wednesday after U.S. casino giant Wynn Resorts Ltd abruptly ended takeover talks overnight.
Wynn, the world's second-largest casino operator, had proposed a buyout valuing Crown at A$10 billion ($7.1 billion), Crown disclosed on Tuesday, but it walked away from the deal after details of the offer became public.
Crown shares fell 10 percent to A$12.50 at the open of trade while the broader market opened 0.1 percent lower. - Reuters
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
