{"id":28489,"date":"2022-03-29T06:14:59","date_gmt":"2022-03-29T09:14:59","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28489"},"modified":"2026-04-23T10:07:59","modified_gmt":"2026-04-23T13:07:59","slug":"firb-approves-blackstones-offer-for-crown-resorts","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/firb-approves-blackstones-offer-for-crown-resorts","title":{"rendered":"FIRB approves Blackstone&#8217;s offer for Crown Resorts"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Australian Foreign Investment Review Board has given its OK to Blackstone&#8217;s AUD8.9bn offer to acquire Crown Resorts.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Australia.-\u00a0Blackstone Group has received a vital approval to acquire the Australian casino operator Crown Resorts. The<strong> Australian Foreign Investment Review Board (FIRB)<\/strong>\u00a0has said the Commonwealth Government has no objection to the proposed acquisition.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The deal still remains subject to a number of other conditions, including approval from gaming regulators, Crown shareholders and the cours.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In January,\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-receives-a-new-offer-from-blackstone\" target=\"_blank\">Blackstone Group Inc. increased its offer<\/a>\u00a0for Crown from AU$12.50 (US$9.11) to AU$13.10 (US$9.55) cash per share, an offer that received unanimous backing from <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-accepts-us6-36bn-blackstone-takeover-bid\" target=\"_blank\">the board of Crown Resorts<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since then, <strong>Crown Resorts<\/strong>\u00a0has been deemed\u00a0<strong>unsuitable\u00a0<\/strong>to hold a licence for its Perth casino. However, the company will keep its licence under stricter conditions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Tony Buti, WA\u2019s racing and gaming minister<\/strong>, said the government had accepted key recommendations and would amend the state\u2019s casino laws. Crown and its subsidiaries are undergoing a restructuring overseen by independent observers, which is expected to take about two years. A similar arrangement was imposed <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-found-unsuitable-to-operate-crown-melbourne\" target=\"_blank\">in Melbourne<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian Foreign Investment Review Board has given its OK to Blackstone&#8217;s AUD8.9bn offer to acquire Crown Resorts.<\/p>\n","protected":false},"author":176,"featured_media":25558,"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 Australian Foreign Investment Review Board (FIRB) has approved Blackstone Group's AUD8.9bn offer to acquire Crown Resorts, marking a significant step in the M&A process. The acquisition remains contingent on further approvals from gaming regulators, Crown shareholders, and the courts, amidst ongoing regulatory restructuring for Crown's licenses in Perth and Melbourne.","focusai_entities":"Blackstone Group, Crown Resorts, Australian Foreign Investment Review Board, Commonwealth Government, Tony Buti","focusai_location":"Australia, Perth, Melbourne","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Crown Perth License Impact?","query":"What are the specific conditions imposed by WA regulators on Crown's Perth license, and how might these impact Blackstone's operational strategy and capital expenditure post-acquisition?"},{"label":"Remaining Approvals Timeline?","query":"Beyond FIRB, what are the critical remaining regulatory and shareholder approvals required, and what is the projected timeline for deal completion, considering the ongoing restructuring?"}],"footnotes":""},"categories":[16336,157,158],"tags":[14657],"class_list":["post-28489","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\/28489","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=28489"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28489\/revisions"}],"predecessor-version":[{"id":28517,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28489\/revisions\/28517"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25558"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}