{"id":29298,"date":"2022-04-26T10:29:05","date_gmt":"2022-04-26T13:29:05","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29298"},"modified":"2026-04-23T09:16:54","modified_gmt":"2026-04-23T12:16:54","slug":"blackstone-still-waiting-for-regulatory-approvals-to-acquire-crown","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/blackstone-still-waiting-for-regulatory-approvals-to-acquire-crown","title":{"rendered":"Blackstone still waiting for regulatory approvals to acquire Crown"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Blackstone&#8217;s acquisition of Crown Resorts has yet to be finalised due to delays in gaming regulatory approvals.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Australia.- <strong>Crown Resorts <\/strong>has postponed the shareholder vote\u00a0on its acquisition by Blackstone because the investment company has yet to obtain the necessary <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/firb-approves-blackstones-offer-for-crown-resorts\" target=\"_blank\">regulatory approvals<\/a>\u00a0for its acquisition of the casino operator. It&#8217;s put the vote back by three weeks to May 20.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Blackstone said good progress had been made to get the approvals needed under the terms of the\u00a0<strong>Scheme Implementation Deed\u00a0<\/strong>dated 14 February 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to The Sydney Morning Herald, a Blackstone spokeswoman said the company \u201ccontinues to work constructively with regulators in relation to this transaction and looked forward to bringing its industry expertise to Australia.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In February, the board of\u00a0<strong>Crown Resorts Ltd<\/strong>\u00a0unanimously backed investment firm\u00a0<strong>Blackstone Inc<\/strong>\u2018s offer to acquire all of the shares of Crown Resorts in a deal that values the firm at\u00a0<strong>AUD8.9bn (US$6.36bn)<\/strong>. The board determined that<strong>\u00a0the revenue multiples would be in line with other casino operators<\/strong>\u00a0in Australia and the United States and more than casinos in New Zealand, Macau and Singapore.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In March, Crown&#8217;s board sent out a letter calling on shareholders to support\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-receives-a-new-offer-from-blackstone\" target=\"_blank\">Blackstone\u2019s proposal<\/a>, noting that the sale would allow them to avoid the company\u2019s current uncertainty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blackstone&#8217;s acquisition of Crown Resorts has yet to be finalised due to delays in gaming regulatory approvals.<\/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":"Blackstone's AUD8.9bn acquisition of Crown Resorts faces a delay in finalization due to pending gaming regulatory approvals, necessitating a three-week postponement of the shareholder vote. The board of Crown Resorts had unanimously backed the offer, citing valuation alignment and a desire to mitigate company uncertainty.","focusai_entities":"Blackstone, Crown Resorts Ltd, The Sydney Morning Herald","focusai_location":"Australia, Sydney, New Zealand, Macau, Singapore, United States","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Approval Impact","query":"What specific regulatory concerns or conditions are delaying the gaming license approvals for Blackstone's acquisition of Crown Resorts, and how might these impact future M&A transactions in the Australian market?"},{"label":"Valuation & Market Multiples","query":"How do the revenue multiples achieved in the Blackstone-Crown Resorts deal compare to recent casino operator M&A transactions in other key gaming verticals and jurisdictions, particularly given the current market uncertainties?"}],"footnotes":""},"categories":[16336,157,158],"tags":[16237,14657],"class_list":["post-29298","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\/29298","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=29298"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29298\/revisions"}],"predecessor-version":[{"id":29314,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29298\/revisions\/29314"}],"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=29298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}