• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 8 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

OPINION: Crown Resorts looks a natural fit for US casino giant Las Vegas Sands

Andrew W Scott and Ben Blaschke by Andrew W Scott and Ben Blaschke
Tue 5 Jan 2021 at 16:47
OPINION: Crown Resorts looks a natural fit for US casino giant Las Vegas Sands
91
SHARES
2.3k
VIEWS
Print Friendly, PDF & Email

Reports this week that Las Vegas Sands (LVS) supremo Sheldon Adelson and Crown Resorts’ biggest shareholder James Packer moored their superyachts alongside one another in the French Caribbean on New Year’s Eve have sent the global gaming gossip network into overdrive.

Coming less than a month out from Commissioner Patricia Bergin’s highly anticipated report into whether Crown is deemed suitable to retain its New South Wales state casino license, the conclusion drawn by some observers is that Adelson and Packer may well have been discussing a deal for Sands to buy into, or even acquire, the troubled Australian operator.

Whether or not such an intriguing transaction eventuates remains to be seen, but purely from a business standpoint it could well prove a match made in heaven.

Certainly there appears to be motivation on both sides to pursue such a deal. Remember it was less than two years ago that Crown found itself in talks with Adelson’s long-time Las Vegas competitor, Wynn Resorts, over a potential takeover deal valued at the time at around AU$10 billion (US$7.7 billion). Wynn ended negotiations after the story was leaked to the press, but Crown’s former partner in Macau, Melco Resorts & Entertainment, wasted no time in seizing the opportunity when it reached a deal to purchase 19.99% of the Australian casino giant directly from Packer for AU$1.76 billion (US$1.35 billion).

Las Vegas Sands Chairman and CEO Sheldon Adelson.

As we now know, that Melco deal – long since terminated – became one of the key focal points of the NSW Independent Gaming and Liquor Authority inquiry that has placed Crown’s casino licenses in NSW, Victoria and Western Australia in jeopardy.

While Commissioner Bergin’s report isn’t due for another few weeks, one possible outcome could be a requirement for Packer to sell down his stake in Crown, either partially or in full, in which case a fellow industry casino mogul like Adelson could be seen by Packer as some sort of white knight.

Adelson, too, may well have inadvertently forecast this very opportunity last April when he told analysts during an earnings call that LVS was actively watching for merger and acquisition opportunities in Asia.

“But of course, the price has to be right,” he said at the time. Could Adelson finally have his wish?

Last April, after acquiring an initial 9.99% stake in Crown directly from Packer for around US$575 million 10 months earlier, Melco Resorts sold off its interest to American multinational private equity and hedge fund giant The Blackstone Group for just US$360 million, representing a near 40% discount on its original purchase price. Should Commissioner Bergin force Packer into a hurried sale, any similar sort of deal might be just too good for Adelson to refuse.

Crown Sydney

From an LVS perspective, there is a lot to like about Crown Resorts. A well established and, for the most part, highly respected brand in Australia over the past 25 years, the company would provide another leg up into the Asia-Pacific market in a similar time zone to the company’s extensive assets in Macau and Singapore.

It doesn’t hurt that many of Asia’s leading gaming and hospitality executives have been sourced from Australia, among them none other than Andrew MacDonald – the former Crown Resorts strategist now based in Singapore as LVS’ Corporate SVP and Chief Casino Officer.

Crown also exists in a highly-regulated market – as it is discovering all too well right now – which can only be viewed favorably should LVS later resurrect its interest in tightly governed opportunities such as Japan.

Which brings us back to The Blackstone Group. On the one hand Blackstone, which has been aggressively expanding its casino investment portfolio in recent years including the purchase of the MGM Grand and Bellagio real estate from MGM Resorts in January 2020, may be looking to beat LVS to the punch. But on the other it may see LVS as the perfect partner in Australia, not only to step straight into a casino operations role should Packer & Co vacate the building but also to give comfort to US regulators back home.

Right now, the Packer-Adelson story is only one of ships passing in the night. But cast your net wide enough and sooner or later you’re bound to catch a big fish.

RelatedPosts

IGT, Scientific Games help boost AGEM Index in December

AGEM Index holds steady in May despite mixed results from gaming suppliers

Thu 5 Jun 2025 at 20:35
Crown down but Star not ruling out junkets

Star calls for leniency as court hearing to determine size of AUSTRAC fine gets underway

Thu 5 Jun 2025 at 20:14
Genting’s KT Lim moving to take New York’s Resorts World Catskills private

Genting Malaysia completes full acquisition of troubled US entity Empire Resorts

Wed 4 Jun 2025 at 04:53
Survey on Australia-China relations finds most Australians keen to encourage more Chinese tourism

Regulating the Game launches Call for Speakers for 2026 event in Sydney

Mon 2 Jun 2025 at 13:24
Load More
Tags: AustraliaCrown MelbourneCrown ResortsCrown SydneyJames PackerLas Vegas SandsMelbourneMelco Resorts & EntertainmentNorth AmericaSheldon AdelsonThe Blackstone GroupVictoria Australian State
Share36Share6
Andrew W Scott and Ben Blaschke

Andrew W Scott and Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Born in Australia, Andrew is a gaming industry expert and media publisher, commentator and journalist who moved to Hong Kong in 2005 and then Macau in 2009, when he founded O MEDIA, one of Macau’s largest media companies and parent company of Inside Asian Gaming.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Hong Kong Chief Executive claims to have discussed “travel bubble” with Macau

Over 90% of Hong Kong residents support introduction of basketball betting as 50% net revenue tax proposed

by Pierce Chan
Fri 6 Jun 2025 at 19:10

The Hong Kong government has completed a public consultation on the legalization of basketball betting, with 94% of respondents supporting the introduction of the new betting option and proposing that 50% of net betting revenue be allocated as gambling tax....

Chief Gaming Officer Damian Quayle to depart SJM, take up role as COO of Manila’s Solaire Resort North

Chief Gaming Officer Damian Quayle to depart SJM, take up role as COO of Manila’s Solaire Resort North

by Ben Blaschke
Fri 6 Jun 2025 at 12:55

Macau’s SJM Resorts has announced the impending departure of its Chief Gaming Officer, Damian Quayle, who has resigned from the role. Inside Asian Gaming understands that Quayle, whose final day with SJM will be on 20 June, has accepted a...

Australia’s Crown sells London casino to Wynn Resorts

Wynn completes purchase of former Crown London casino, now called Wynn Mayfair

by Newsdesk
Fri 6 Jun 2025 at 06:56

US casino giant Wynn Resorts Ltd said overnight that it has completed the purchase of Crown London, formerly Aspinall’s, from Australia’s Crown Resorts. The casino will now be known as Wynn Mayfair. First announced in early January, the acquisition of...

SkyCity to file US$200 million claim against developer for long delays in completion of Auckland convention centre

SkyCity to file US$200 million claim against developer for long delays in completion of Auckland convention centre

by Newsdesk
Fri 6 Jun 2025 at 06:41

New Zealand’s SkyCity Entertainment Group Limited will file legal proceedings against the developers of its New Zealand International Convention Centre (NZICC) seeking NZ$330 million (US$200 million) damages for losses arising from delays to completion of the project. The company noted...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語