{"id":30109,"date":"2022-05-25T01:56:48","date_gmt":"2022-05-25T04:56:48","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=30109"},"modified":"2026-04-23T08:27:21","modified_gmt":"2026-04-23T11:27:21","slug":"final-hearing-on-blackstones-acquisition-of-crown-expected-in-june","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/final-hearing-on-blackstones-acquisition-of-crown-expected-in-june","title":{"rendered":"Final hearing on Blackstone&#8217;s acquisition of Crown expected in June"},"content":{"rendered":"\n<p>A hearing scheduled for this week was suspended but Crown Resorts expects a new date early next month.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- The acquisition of<strong>\u00a0Crown Resorts<\/strong>\u00a0by Blackstone is nearly complete with only a few administrative procedures to go ahead. The company must present a series of documents before the Federal Court of Australia to validate the purchase.<\/p>\n\n\n\n<p>Last week,\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-shareholders-approve-6-3bn-blackstone-takeover\" target=\"_blank\">92.05 per cent of Crown Resorts&#8217; shareholders voted in favour of the deal<\/a>. The court then set a hearing for May 24 in order to analyse the documents and approve the transfer, but the hearing was suspended. Crown Resorts said it will publish the new hearing date on its website but hopes it will take place in the <strong>week beginning June 6<\/strong>.<\/p>\n\n\n\n<p>The company stated: &#8220;The date of the final hearing depends on when the condition precedent relating to Blackstone obtaining gaming regulatory approvals is satisfied.&#8221;<\/p>\n\n\n\n<p>In February, after&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/crown-resorts-receives-a-new-offer-from-blackstone\" target=\"_blank\">months of negotiations<\/a>, the board of&nbsp;<strong>Crown Resorts Ltd<\/strong>&nbsp;unanimously backed investment firm&nbsp;<strong>Blackstone Inc<\/strong>\u2018s offer to acquire all the shares of Crown Resorts in a deal that values the firm at&nbsp;<strong>AUD8.9bn (US$6.36bn)<\/strong>.<\/p>\n\n\n\n<p>The offer was the fourth that Blackstone had made in 12 months. It had previously offered AUD11.85 per share in&nbsp;<strong>March last year<\/strong>&nbsp;and AUD12.35 per share&nbsp;<strong>in May 2021<\/strong>.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A hearing scheduled for this week was suspended but Crown Resorts expects a new date early next month.<\/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 AUD8.9bn acquisition of Crown Resorts by Blackstone is nearing completion, contingent upon final administrative procedures and critical gaming regulatory approvals. A Federal Court of Australia hearing, essential for validating the purchase, was suspended but is anticipated to be rescheduled for early June, following overwhelming shareholder approval.","focusai_entities":"Crown Resorts, Blackstone, Blackstone Inc","focusai_location":"Australia","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":"Regulatory Approval Impact","query":"What specific gaming regulatory approvals are pending for Blackstone, and what potential implications could further delays have on the deal's finalization timeline and valuation?"},{"label":"Post-Acquisition Strategy","query":"Following the acquisition, what strategic shifts are anticipated for Crown Resorts' operational model, particularly concerning its gaming verticals and capital expenditure under Blackstone's ownership?"}],"footnotes":""},"categories":[16336,157],"tags":[16237,14657],"class_list":["post-30109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-blackstone-group","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30109","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=30109"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30109\/revisions"}],"predecessor-version":[{"id":30146,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30109\/revisions\/30146"}],"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=30109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}