{"id":16109,"date":"2021-03-23T15:06:39","date_gmt":"2021-03-23T15:06:39","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16109"},"modified":"2026-04-23T20:56:19","modified_gmt":"2026-04-23T23:56:19","slug":"blackstone-makes-au8bn-offer-to-acquire-crown-resorts","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/blackstone-makes-au8bn-offer-to-acquire-crown-resorts","title":{"rendered":"Blackstone makes AU$8bn offer to acquire Crown Resorts"},"content":{"rendered":"\n

Blackstone, which already has a 10 per cent holding in the casino giant, has offered to buy all outstanding shares in Crown Resorts for AU$8bn (US$6.2bn).<\/p>\n\n\n\n\n\n\n\n

Australia.- The Blackstone Group has made an unsolicited non-binding offer to acquire all remaining shares in Crown Resorts<\/strong> for AU$11.85 cash per share<\/strong>.<\/p>\n\n\n\n

The hedge fund bought Melco Resorts & Entertainment’s 9.9 per cent stake<\/a><\/em> in the operator in April 2020 at a price ofAU$8.15 a share<\/strong>.<\/p>\n\n\n\n

The latest bid is <\/strong>conditional and will depend on Australia\u2019s lengthy probity process, which can last up to three years.<\/p>\n\n\n\n

Crown’s board issued a statement saying that the Blackstone Group\u2019s proposal is subject to several conditions<\/strong>, including arranging debt finance, a unanimous Crown Board recommendation and a commitment from all Crown directors to vote in favour of the proposal<\/strong>.<\/p>\n\n\n\n

Other potential bidders for Crown Resorts<\/h2>\n\n\n\n

An alternative bidder for Crown could emerge in the form of Las Vegas Sands, which has recently sold its world-famous Venetian casino<\/a><\/em> for US$6.25bn to invest in its Asian businesses.<\/p>\n\n\n\n

Bernstein analyst Vitaly Umansky said: \u201cCrown Resorts could be a good fit for Sands in the long run<\/strong>. The company is currently in turmoil following regulatory challenges and is ripe for new ownership and management.\u201d<\/p>\n\n\n\n

Another potential contender, Wynn Resorts, <\/strong>previously made an offer for Crown in 2018, <\/strong>offering a price of AU$14.75 a share, but the US operator walked away from talks after they became public.<\/p>\n\n\n\n

Crown Resorts is currently being investigated by a Royal Commission<\/a><\/em> in Western Australia to\u00a0examine its suitability\u00a0<\/strong>to continue holding a casino gaming licence for Crown Perth.<\/p>\n","protected":false},"excerpt":{"rendered":"

Blackstone, which already has a 10 per cent holding in the casino giant, has offered to buy all outstanding shares in Crown Resorts for AU$8bn (US$6.2bn).<\/p>\n","protected":false},"author":176,"featured_media":16110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Blackstone has made an unsolicited, non-binding AU$8bn offer to acquire all outstanding shares in Crown Resorts, building on its existing 10% stake. This bid is contingent on debt financing, a unanimous Crown Board recommendation, and navigating Australia's extensive probity process, which could span up to three years. The proposal emerges amidst Crown's significant regulatory challenges, including a Royal Commission investigation into its Perth casino license, potentially attracting alternative bidders like Las Vegas Sands or Wynn Resorts.","focusai_entities":"Blackstone, Crown Resorts, Melco Resorts & Entertainment, Las Vegas Sands, Bernstein, Vitaly Umansky, Wynn Resorts, Royal Commission","focusai_location":"Australia, Western Australia, Perth, US, Asia","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Probity Process Impact?","query":"What specific regulatory conditions and timelines associated with Australia's probity process could impede or alter Blackstone's proposed acquisition of Crown Resorts, and what precedents exist?"},{"label":"Crown's Valuation Drivers?","query":"How do Crown Resorts' ongoing regulatory challenges and potential license revocations influence the valuation dynamics of Blackstone's AU$11.85 per share offer, especially compared to previous bids and market multiples?"}],"footnotes":""},"categories":[16336,157],"tags":[16237,14657],"class_list":["post-16109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-blackstone-group","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=16109"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16109\/revisions"}],"predecessor-version":[{"id":16141,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16109\/revisions\/16141"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16110"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}