11/28/2023 0 Comments Crown casino melbourne gamblingThe A$13.10 cash offer values Crown below its share price in 2019, before COVID-19 restrictions and damaging regulatory inquiries in the three states it operates, but Chief Executive Steve McCann said it provides much-needed certainty for shareholders.Ĭrown shares rose 2% to A$12.65 on Monday. Packer will cash in his chips a decade and a half after he created Crown to shift away from the Packer family’s media empire in a bid to reinvent the dynasty as a gambling business. Crown Resorts backed a $6.3 billion buyout from private equity giant Blackstone on Monday, giving billionaire James Packer an exit route from the Australian casino firm beset by scandals and regulatory setbacks.
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