{"id":30667,"date":"2022-06-10T04:31:24","date_gmt":"2022-06-10T07:31:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=30667"},"modified":"2026-04-23T07:54:11","modified_gmt":"2026-04-23T10:54:11","slug":"blackstone-receives-gwc-approval-for-crown-resorts-takeover","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/blackstone-receives-gwc-approval-for-crown-resorts-takeover","title":{"rendered":"Blackstone receives GWC approval for Crown Resorts takeover"},"content":{"rendered":"\n<p>Western Australia\u2019s Gaming and Wagering Commission has given its okay to Blackstone\u2019s proposed acquisition of Crown.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.-\u00a0<strong>Blackstone Inc<\/strong> has\u00a0obtained another necessary approval to move forward with its acquisition of\u00a0<strong>Crown Resorts<\/strong>. Following <a href=\"https:\/\/focusgn.com\/asia-pacific\/blackstone-gets-two-oks-for-crown-resorts-takeover\">approval<\/a> from the Victorian Gambling and Casino Control Commission (VGCCC) and the New South Wales Independent Gaming and Liquor Authority (ILGA) earlier this week, it&#8217;s now received a green light from  the Gaming and Wagering Commission of Western Australia.<\/p>\n\n\n\n<p>Crown Resorts has announced that the Western Australian minister for racing and gaming, and the Gaming and Wagering Commission of Western Australia (GWC) have given their approval of the takeover plan.<\/p>\n\n\n\n<p>The approvals were granted subject to several conditions, including:\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>enhanced reporting of anti-money laundering and responsible gambling activities and additional auditing requirements on Crown;<\/li><li>non-interference requirements to prevent Blackstone\u2019s institutional investors from involvement in the day-to-day operations of Perth\u2019s Crown Casino;<\/li><li>obligation to report any investigations by any Australian or overseas regulators; and<\/li><li>that Blackstone cannot change its corporate structure and funding arrangements without providing prior notice and relevant approvals. This means Blackstone will not be able to introduce new investors into the structure without approval.&nbsp;<\/li><\/ul>\n\n\n\n<p>Racing and gaming minister <strong>Tony Buti\u00a0<\/strong>said: \u201cAs the prospective new owner of the Perth Casino, Blackstone will be required to meet a number of stringent conditions. These conditions align with a number of the recommendations stemming from the recent Perth Casino Royal Commission.\u00a0<\/p>\n\n\n\n<p>\u201cThe State Government has already made significant improvements to the regulatory regime and remains committed to establishing an even tougher regulatory and governance framework to ensure whoever owns or runs Perth\u2019s casino is held to account.&nbsp;<\/p>\n\n\n\n<p>\u201cThe conditions on Blackstone, combined with upcoming reforms, will ensure appropriate standards are upheld at Perth\u2019s Casino.\u201d<\/p>\n\n\n\n<p>Gaming and Wagering Commission chair <strong>Lanie Chopping\u00a0<\/strong>added: \u201cBlackstone has been subject to an extensive probity assessment by the Gaming and Wagering Commission.\u00a0<\/p>\n\n\n\n<p>\u201cThis detailed and complex process undertaken since the application was submitted last year involved the comprehensive independent assessment of relevant Blackstone entities in accordance with the legislative requirements.&nbsp;<\/p>\n\n\n\n<p>\u201cThe Gaming and Wagering Commission\u2019s probity approval has been granted subject to a number of conditions designed to ensure that the Commission has oversight and the capacity to monitor any change in licensee management or ownership.\u201d<\/p>\n\n\n\n<p>The final court hearing on Blackstone&#8217;s acquisition of Crown has been scheduled for June 15. If the Court approves the scheme, Crown will announce an indicative timetable for implementation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Western Australia\u2019s Gaming and Wagering Commission has given its okay to Blackstone\u2019s proposed acquisition of Crown.<\/p>\n","protected":false},"author":176,"featured_media":21504,"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 proposed acquisition of Crown Resorts has received final regulatory approval from Western Australia's Gaming and Wagering Commission, following prior endorsements from Victorian and NSW authorities. This approval is contingent upon stringent conditions, including enhanced AML\/responsible gambling reporting, additional auditing, and non-interference clauses, aligning with recommendations from the Perth Casino Royal Commission to bolster governance frameworks. The transaction now awaits a final court hearing on June 15 for implementation.","focusai_entities":"Blackstone Inc, Crown Resorts, Gaming and Wagering Commission of Western Australia, Victorian Gambling and Casino Control Commission, New South Wales Independent Gaming and Liquor Authority, Tony Buti, Lanie Chopping, Perth Casino Royal Commission","focusai_location":"Western Australia, Australia, Victoria, New South Wales, Perth","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.95), operator_casino (0.85), payments_fraud_aml (0.8), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Post-Acquisition Governance?","query":"How will Blackstone's proposed non-interference requirements for institutional investors be practically enforced to ensure robust governance and prevent undue influence on Crown Perth's day-to-day operations?"},{"label":"Regulatory Precedent?","query":"What implications do these stringent regulatory conditions, particularly regarding AML, responsible gambling, and corporate structure oversight, have for future M&A activities and licensing renewals within the Australian iGaming and land-based casino market?"}],"footnotes":""},"categories":[16336,157,158],"tags":[16237,14657],"class_list":["post-30667","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\/30667","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=30667"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30667\/revisions"}],"predecessor-version":[{"id":30682,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30667\/revisions\/30682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21504"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}