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SYDNEY: Australia’s No. 2 casino operator Star Entertainment Group has proposed a A$9bil (US$7bil or RM29bil) buyout of larger rival Crown Resorts Ltd, vying with two private equity giants for control of the troubled target.
MELBOURNE: Australian casino operator Star Entertainment Group said on Monday it had proposed to buy rival Crown Resorts Ltd in a deal valued at more than A$9.48 billion ($7.44 billion).
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.