Crown Resorts received a takeover offer from US investment manager Blackstone just a few weeks after it was refused a license to operate a billion-dollar Sydney casino, the Australian gaming group announced on Monday.
The casino operator, who has repeatedly was investigated for money laundering and organized crime links, Blackstone made the « unsolicited, non-binding and indicative proposal » on Sunday.
The offer is for $ 11.85 ($ 9.15) per share – a premium of 19 percent from the volume-weighted average price of Crown shares since the first half of 2021 results were released.
This came after regulators refused to license Crown to operate a gleaming 75-story tower, the Sydney’s The waterfront promenade dominates as a casino, as there are suspected links to organized crime.
The authorities reacted to the recommendations n a public investigation that reported that Crown « facilitated » money laundering through so-called « high roller » junkets associated with Chinese triads and other organized criminal groups.
The company and its largest shareholder, media sprout James Packer, have been in the spotlight since media reports last year that Crown casinos in Melbourne and Perth were used to launder profits from human trafficking, drugs, child sexual exploitation and terrorism.
The CEO of Crown and three longtime directors resigned following the Sydney investigation, while chairwoman Helen Coonan saw the results as « justified » and said steps were being taken to improve the company’s governance, compliance and culture.
It has, too Forays into the hotel and casino business by purchasing the Hilton Hotels group once d currently owns the Cosmopolitan Resort and Casino in Las Vegas.
The tender offer is subject to conditions such as due diligence, debt financing and support from the Crown Board.
If the tender offer is successful, Blackstone must convince Australian regulators to that it is a suitable company to operate casinos in the country.
Crown said the board had not yet formed an opinion and would « now initiate a process to evaluate the proposal ».
Not even the bad Weather will rain on this mother’s parade in Sydney after she takes her breathtaking lottery win.
According to NSW Prime Minister Gladys Berejiklian, 18,000 people have been evacuated so far after flooding struck multiple areas across the state.
NSW is preparing for more days of exceptional weather, and the Bureau of Meteorology is warning of three main areas that are expected to be e are most at risk.
Six million Australians will be eligible to receive the Covid-19 vaccine in the next phase when local production starts.
The relentless rain continues to hit the NSW coast . Residents are said to expect similar conditions on Monday.
Ms. Fotheringham spent Friday night on her parents’ property in upland Taree, NSW, where 250 millimeters of rain fell the night before her big day.
During the rains NSW still soaked, parts of the state are already submerged in floods.
A 30-year-old woman said she and her parents had some fudge before they found a « black nugget » below.
The residents of the West Sydney has been told to leave as soon as possible with the worst flooding in 60 years.
So far, more than 68,000 people have donated to the siblings who lost their mother when a shooter stormed three massage parlors, killing eight .
According to reports, a walker heard a scream when the 41-year-old went missing with friends who refused to believe she had fallen off the boat.
Sarah Soars and Josh Edge heard of hers Sadness spoken after pictures of her home floating in NSW floods hit the headlines.
The Bureau of Meteorology has warned that river levels in western Sydney are likely to reach those not seen since 1961.
The 23-year-old woman’s friend tried to save her when she slipped while taking a selfie on her cell phone.
Parts of Sydney’s northwest have been evacuated as NSW continues to experience a « volatile, dangerous and dynamic » weather event is haunted.
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