Local media reports suggest The Star Entertainment Group may make a new unsolicited non-binding offer for Crown Resorts next year.<\/p>\n\n\n\n\n\n\n\n
Australia.- The Star Entertainment Group could make another move for Crown Resorts in February 2022, Australian media have suggested. Star Entertainment<\/a>\u00a0made an unsolicited non-binding offer of AU$12bn<\/strong>\u00a0(US$9.4bn)<\/strong>\u00a0for the casino operator in May but withdrew its interest following concerns that Crown could lose its casino licence for Crown Melbourne.<\/p>\n\n\n\n However, although Victoria\u2019s Royal Commission has declared\u00a0Crown Resorts unsuitable to hold a licence for the Crown Melbourne casino<\/strong>, it has allowed it to keep the licence<\/a>\u00a0under stricter conditions. In August, Matt Bekier, Star\u2019s CEO, also said he was\u00a0still interested in a possible merger<\/a>.\u00a0He previously said a merger would\u00a0deliver between AU$150m to AU$200m of cost synergies\u00a0<\/strong>per annum with an\u00a0estimated net value of AU$2bn<\/strong>.<\/p>\n\n\n\n Crown is still awaiting the results of the Western Australian Royal Commission into Crown Perth’s operations. The inquiry is due to deliver its final report by March 4.<\/p>\n\n\n\n Earlier this month, Crown Resorts rejected a third acquisition offer<\/a> from\u00a0The Blackstone Group<\/a>. The US fund\u00a0had made a third 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 Through a statement, Crown Resorts said its board is of the view that the proposal does not represent compelling value<\/strong> for Crown shareholders. <\/p>\n\n\n\n However, the Crown Board offered Blackstone the opportunity to \u201caccess non-public information to allow Blackstone to undertake initial due diligence inquiries on a non-exclusive basis so that it can formulate a revised proposal<\/strong> that adequately reflects the value of Crown.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Local media reports suggest The Star Entertainment Group may make a new unsolicited non-binding offer for Crown Resorts next year.<\/p>\n","protected":false},"author":176,"featured_media":25794,"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 Star Entertainment Group is reportedly considering a renewed unsolicited non-binding offer for Crown Resorts in early 2022, following its prior withdrawal due to licensing concerns. This comes as Crown Resorts recently rejected a third acquisition proposal from The Blackstone Group, though it has granted Blackstone due diligence access for a potential revised bid. The regulatory landscape, particularly the outcomes of ongoing Royal Commissions, remains a critical factor influencing these M&A discussions.","focusai_entities":"The Star Entertainment Group, Crown Resorts, The Blackstone Group, Matt Bekier","focusai_location":"Australia, Victoria, Melbourne, Western Australia, Perth","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Star's Revised Offer Strategy","query":"Given the conditional retention of Crown Melbourne's license and the ongoing Western Australian Royal Commission, what specific adjustments might The Star Entertainment Group incorporate into a revised non-binding offer to mitigate regulatory risk and enhance shareholder value?"},{"label":"Crown's Valuation Rationale","query":"What specific valuation metrics or strategic considerations underpin Crown Resorts' board's assessment that Blackstone's AU$12.50 per share offer does not represent 'compelling value,' and what non-public information is critical for Blackstone to formulate an acceptable revised proposal?"}],"footnotes":""},"categories":[16336,157,158],"tags":[14657,23945,23871],"class_list":["post-25771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-crown-resorts","tag-fa","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25771","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=25771"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25771\/revisions"}],"predecessor-version":[{"id":25778,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25771\/revisions\/25778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25794"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=25771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=25771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=25771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Crown Resorts turns down latest Blackstone offer<\/h2>\n\n\n\n