• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 10 May 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
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
No Result
View All Result
IAG
No Result
View All Result

Crown shareholder vote on Blackstone acquisition postponed

Ben Blaschke by Ben Blaschke
Wed 27 Apr 2022 at 05:27
Crown’s internal AML controls described by inquiry judge as a “debacle”
15
SHARES
376
VIEWS
Print Friendly, PDF & Email

A meeting of Crown shareholders to vote on the company’s proposed acquisition by The Blackstone Group has been postponed by almost a month with the US private equity firm yet to receive approvals from state regulators.

Crown told the ASX on Tuesday that, “while good progress has been made [by Blackstone] in obtaining the gaming regulatory approvals required … those approvals have not yet been obtained by Blackstone.” As such, a scheme meeting originally scheduled for 29 April 2022 has been rescheduled to 20 May 2022.

As previously reported by Inside Asian Gaming, the proposed acquisition has already been approved by the Australian government’s Foreign Investment Review Board (FIRB).

Crown continues to urge its shareholders to agree to Blackstone’s proposal to acquire all shares in the Australian casino giant for AU$8.9 billion (US$6.5 billion), equivalent to AU$13.10 per share.

Blackstone already holds a 9.99% stake in Crown which it acquired from Melco Resorts & Entertainment in April 2020. Melco had purchased the 9.99% stake from James Packer’s Consolidated Press Holdings a year earlier but backed out of a deal to purchase a second tranche after regulators in New South Wales launched an independent inquiry, which in February 2021 ultimately led to the NSW regulator finding Crown unsuitable to hold a NSW casino license.

Blackstone was one of two major international investment groups to express an interest in Crown in 2021, the other being Oaktree Capital Management, while rival casino operator Star Entertainment Group withdrew a merger proposal in July.

RelatedPosts

Ben Attwood: Land of Wonder

Regulating the Game announces CherryHub and Ebet as joint RegTech sponsors of 2026 Sydney conference

Tue 6 May 2025 at 13:03
Unhitching Online Poker

Regulating the Game conference to include inaugural RTG Global Awards in 2026

Thu 1 May 2025 at 08:18
Crown down but Star not ruling out junkets

Star falls further as 1Q25 EBITDA loss hits AU$21 million

Thu 1 May 2025 at 07:49
Donaco pays down US$8.5 million in debt as part of loan refinancing deal

Donaco’s 1Q25 revenue down on losing quarter for VIP segment at Star Vegas

Tue 29 Apr 2025 at 09:45
Load More
Tags: acquisitionAustraliaCrown Resortsregulatory approvalThe Blackstone Group
Share6Share1
Ben Blaschke

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.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Macau GGR hits MOP$19.8 billion in August, up 6% month-on-month

Macau’s concessionaires rode their luck in 1Q25 on gains in VIP segment

by Ben Blaschke
Sat 10 May 2025 at 11:00

Macau’s six concessionaires saw their combined gross gaming revenues rise only slightly year-on-year, by around 1%, in the first three months of 2025 and only due to playing lucky in the VIP segment. According to the summarized datasets of the...

Galaxy Entertainment Group names Eileen Lui Wai Ling, sister of Francis Lui, as Executive Director

Galaxy Entertainment Group names Eileen Lui Wai Ling, sister of Francis Lui, as Executive Director

by Pierce Chan
Sat 10 May 2025 at 09:20

Galaxy Entertainment Group (GEG) has announced the appointment of Eileen Lui Wai Ling – the company’s current Group Director of Human Resources and Administration and sister of Chairman Francis Lui – as an Executive Director with effect from 9 May...

Asian gaming industry celebrates in style with largest ever The Industry Party at Vista at MGM Cotai

Asian gaming industry celebrates in style with largest ever The Industry Party at Vista at MGM Cotai

by Newsdesk
Sat 10 May 2025 at 08:48

The Asian gaming industry celebrated in style on Thursday night as they came together for the biggest edition of The Industry Party yet. Held at Vista at MGM Cotai on the second evening of G2E Asia, around 400 people enjoyed...

Japan Credit Rating Agency affirms Konami’s A+ rating due to “high earning capacity”

Stability in Australia, North America drives 7.4% revenue growth for Konami’s gaming segment in FY25

by Newsdesk
Fri 9 May 2025 at 06:48

Global gaming supplier Konami reported a 7.4% increase in revenue in its Gaming & Systems segment to JPY42.7 billion in the year ended 31 March 2025, with operating profit up by 16.3% to JPY7.3 billion, according to financial statements published...



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

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
  • 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.

  • English