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CasinoMarch 26, 2021·1 min read
Blackstone Group Bids $6 Billion for Troubled Crown Casino
Crown Casino, the largest casino in Australia, was forced to close due to an audit by law enforcement agencies. The audit confirmed the concerns of law enforcement agencies about Crown Casino's involvement in money laundering.
Blackstone Group offered $9.15 per share for Crown Casino, which is a 20% premium over the market price. Blackstone Group already owns about 10% of Crown Casino's shares. If the deal goes through, the purchase price will be over $6 billion.
This potential acquisition comes after Crown Casino's former CEO, Ken Barton, stepped down and Australian gambling regulators stated that Crown Casino could no longer offer its services to players.
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