{"id":24678,"date":"2021-11-19T07:22:56","date_gmt":"2021-11-19T10:22:56","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24678"},"modified":"2026-04-23T13:41:46","modified_gmt":"2026-04-23T16:41:46","slug":"crown-receives-new-acquisition-offer-from-blackstone","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crown-receives-new-acquisition-offer-from-blackstone","title":{"rendered":"Crown receives new acquisition offer from Blackstone"},"content":{"rendered":"\n<p>Crown Resorts has received an AU$8.46bn (US$6.16n) offer from The Blackstone Group Inc to acquire all of the shares of the casino operator.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- Six months after\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-receives-acquisition-offer-from-the-star-entertainment\">making its last offer<\/a>, The Blackstone Group has made a new unsolicited and non-binding proposal to acquire all of the shares in Crown at a price of AU$12.50 (US$9.11) cash per share.<\/p>\n\n\n\n<p>In March,\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/blackstone-makes-au8bn-offer-to-acquire-crown-resorts\">Blackstone<\/a>, which already has a 10 per cent holding in Crown, offered to buy all outstanding shares in Crown Resorts for<strong>\u00a0AU$11.85 cash per share<\/strong>. In May, it <strong>increased its original bid by AU$0.50 to AU$12.35<\/strong>.<\/p>\n\n\n\n<p>Crown said it would assess the proposal and has not yet formed a view on its merits. Any acquisition would be conditional on Blackstone receiving final approval from the casino regulators in each of Victoria, New South Wales and Western Australia (the Regulators).<\/p>\n\n\n\n<p>Crown Resorts has received approaches from other companies, including rival casino operator The Star Entertainment, which <strong>made an unsolicited non-binding offer of AU$12bn<\/strong>\u00a0<strong>(US$9.4bn)<\/strong>\u00a0that it <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/star-entertainment-withdraws-offer-for-crown-resorts\">finally withdrew<\/a> due to uncertainty surrounding the future of Crown Resorts\u2019 casino licence in Melbourne. Crown Resorts was later found unsuitable to operate Crown Melbourne by <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-found-unsuitable-to-operate-crown-melbourne\">Victoria\u2019s Royal Commission<\/a>.<\/p>\n\n\n\n<p>Through a company filing, Crown Resorts said its proposal is subject to a number of conditions, including:\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Blackstone conducting due diligence on Crown (covering regulatory, commercial, operational, financial, taxation, legal and accounting matters) on an exclusive basis;\u00a0<\/li><li>Blackstone receiving final approval from its investment committees. Blackstone has stated that it has received the preliminary support of the global investment committees and Singapore investment committee of Blackstone;\u00a0<\/li><li>A unanimous Crown Board recommendation and a commitment from all Crown directors to vote in favour of the Proposal (in the absence of a superior proposal and subject to an Independent Expert concluding (and continuing to conclude) that the proposed transaction is in the best interests of Crown shareholders); and<\/li><li>Execution of a binding Implementation Agreement incorporating various terms and conditions, including a range of conditions relating to Blackstone\u2019s regulatory approvals and Crown\u2019s casino licences. Further details of the terms and conditions proposed by Blackstone are set out in the appendix to this announcement.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Crown Resorts has received an AU$8.46bn (US$6.16n) offer from The Blackstone Group Inc to acquire all of the shares of the casino operator.<\/p>\n","protected":false},"author":176,"featured_media":19861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Blackstone Group Inc. has submitted an AU$8.46bn unsolicited, non-binding proposal to acquire all shares of Crown Resorts at AU$12.50 per share. This third offer is contingent upon comprehensive due diligence, unanimous Crown Board recommendation, and crucial final regulatory approvals from gaming authorities in Victoria, New South Wales, and Western Australia, particularly given Crown Melbourne's prior unsuitability finding.","focusai_entities":"Crown Resorts, The Blackstone Group Inc., The Star Entertainment","focusai_location":"Australia, Victoria, New South Wales, Western Australia, Melbourne, Singapore","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Regulatory Approval Hurdles","query":"What specific governance framework enhancements or operational changes would Blackstone need to implement to secure final regulatory approval from the Victorian, NSW, and Western Australian gaming authorities, particularly given Crown Melbourne's prior unsuitability finding?"},{"label":"Valuation & Shareholder Value","query":"How does Blackstone's AU$12.50 per share offer compare to Crown Resorts' intrinsic valuation, considering its asset base, future earnings potential, and the regulatory risk premium associated with its gaming licences, and what is the Crown Board's fiduciary duty in assessing this proposal against alternative strategic options?"}],"footnotes":""},"categories":[16336,157,158],"tags":[14657],"class_list":["post-24678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24678","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=24678"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24678\/revisions"}],"predecessor-version":[{"id":24683,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24678\/revisions\/24683"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19861"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}