{"id":24840,"date":"2021-11-24T11:52:26","date_gmt":"2021-11-24T14:52:26","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24840"},"modified":"2026-04-23T13:33:14","modified_gmt":"2026-04-23T16:33:14","slug":"crown-resorts-shares-soar-after-third-blackstone-offer","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-shares-soar-after-third-blackstone-offer","title":{"rendered":"Crown Resorts shares soar after third Blackstone offer"},"content":{"rendered":"\n

Crown Resorts’ share price jumped 16.6 per cent to AU$11.54 after the company received an AU$8.46bn (US$6.16n) offer from The Blackstone Group.<\/p>\n\n\n\n\n\n\n\n

Australia.- Crown Resorts\u2019 share price soared 16.6 per cent to AU$11.54 after the casino operator revealed it had received a third takeover offer from\u00a0The Blackstone Group Inc<\/a>. Blackstone has made a non-binding offer to acquire the Australian company for AU$8.46bn (US$6.16n) or AU$12.50 per share.<\/p>\n\n\n\n

Crown’s board had already rejected the previous bids of AU$11.85 and AU$12.35 per share because they were considered too low. In May,\u00a0Star Entertainment<\/a>\u00a0also\u00a0made an unsolicited non-binding offer of AU$12bn<\/strong>\u00a0(US$9.4bn)<\/strong> but withdrew its offer<\/a>\u00a0following suggestions that the operator could lose its casino licence for Crown Melbourne.<\/p>\n\n\n\n

Since then, Crown\u2019s share price has fallen due to the impact of money laundering allegations emerging in the Royal Commission inquiries in Western Australia and Victoria. Victoria\u2019s Royal Commission<\/a>\u00a0declared\u00a0Crown Resorts unsuitable to hold a licence for its Crown Melbourne casino<\/strong> but allowed it to keep its licence under stricter conditions.<\/p>\n\n\n\n

Judge Raymond Finkelstein<\/strong>, who led the state of Victoria\u2019s inquiry,\u00a0decided the casino operator can keep its licence through the appointment of a Special Manager<\/strong>\u00a0to oversee the casino for the next two years.\u00a0Stephen O\u2019Bryan QC<\/strong>, as Victoria\u2019s first Independent Broad-based Anti-Corruption Commissioner, will be appointed to the position.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crown Resorts’ share price jumped 16.6 per cent to AU$11.54 after the company received an AU$8.46bn (US$6.16n) offer from The Blackstone Group.<\/p>\n","protected":false},"author":176,"featured_media":24850,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Crown Resorts' share price surged following a third non-binding takeover offer from The Blackstone Group, valuing the Australian casino operator at AU$8.46bn. This development occurs amidst significant regulatory scrutiny, including money laundering allegations and a Victorian Royal Commission ruling Crown unsuitable but allowing it to retain its Melbourne licence under stringent conditions and a newly appointed Special Manager.","focusai_entities":"Crown Resorts, The Blackstone Group Inc., Star Entertainment, Raymond Finkelstein, Stephen O\u2019Bryan QC","focusai_location":"Australia, Victoria, Western Australia, Melbourne","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Crown Melbourne Governance Changes?","query":"What are the specific operational and governance changes mandated by the Special Manager at Crown Melbourne, and how will these impact its B2C licensing obligations?"},{"label":"Blackstone Offer Due Diligence?","query":"How might the ongoing regulatory conditions in Victoria and Western Australia impact the due diligence process and final valuation of Blackstone's AU$8.46bn offer for Crown Resorts?"}],"footnotes":""},"categories":[16336,157,158],"tags":[16237,14657],"class_list":["post-24840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-blackstone-group","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24840","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=24840"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24840\/revisions"}],"predecessor-version":[{"id":24852,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24840\/revisions\/24852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/24850"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}