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Firm offers to buy casino operator Crown for US$6.2bil
Beleaguered casino operator Crown Resorts Ltd said on Monday it received a buyout offer from private equity company Blackstone Group Inc that values the company at A$8.02 billion (US$6.19 billion).
SYDNEY: Australian casino operator Crown Resorts Ltd said on Monday that director John Poynton quit the board after a regulator ruled he was insufficiently independent of the company's biggest shareholder, James Packer.
THE Las Vegas Strip was built by a mobster. It took a billionaire to tame it. That’s a paradox that’s been at the heart of the casino industry since its inception.
MELBOURNE: Crown Resorts Ltd chief executive officer Ken Barton stepped down, bowing to days of pressure after a scathing regulatory report found the Australian casino operator facilitated money laundering and wasn’t fit to hold a license in Sydney.
SYDNEY: Crown Resorts Chief Executive Officer Ken Barton resigned on Monday after an inquiry into money laundering allegations found he was not fit for the job, putting its gambling licence in jeopardy.
SYDNEY: Two Crown Resorts Ltd directors with links to major shareholder James Packer resigned yesterday, the first heads to roll after the Australian casino operator was deemed unfit to hold a gambling licence for its new Sydney casino.
SYDNEY: Crown Resorts Ltd isn’t fit to run its new flagship Sydney casino unless it replaces its chief executive officer and restructures the board, an inquiry recommended after a probe exposed wide-ranging governance and anti-money laundering failure
SYDNEY: Casino operator Crown Resorts Ltd has been accused at an Australian regulatory inquiry of having a "culture of denial and arrogant indifference to compliance" in its dealings with junket operators.
SYDNEY: An Australian regulatory inquiry raised the prospect of cancelling the casino licence of gambling giant Crown Resorts Ltd over alleged corporate governance failures, casting a shadow over the company weeks before a US$1.6bil resort opening.