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GamblingPosted by
Front Office Sports

Crown Resorts Faces Shutdown, $9B Merger Withdrawn

Crown Resorts has lost its $9 billion merger proposal with Star Entertainment Group, per Bloomberg. Brisbane-based Star proposed an all-stock merger with Crown in May to create an Australian gaming and hospitality giant. Star, Crown’s closest rival, has withdrawn from merger talks after allegations of tax evasion, money-laundering, and a...
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GamblingPosted by
Reuters

Australia's Star Entertainment pulls $6.6 bln bid for Crown Resorts

July 23 (Reuters) - Australian casino operator Star Entertainment Group (SGR.AX) on Friday withdrew a A$9 billion ($6.6 billion) buyout proposal for rival Crown Resorts Ltd (CWN.AX) after an inquiry heard the target should lose its main licence, sending its shares lower. Star, the country's No. 2 casino operator, said...
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Gamblinggamblingnews.com

Star Entertainment Shies Away from Crown Resorts Takeover

Star Entertainment is no longer entertaining the idea of a Crown Resorts takeover. On paper dubbed a merger, any action by Star to integrate Crown’s operations into its own would have put the latter’s brass on notice that their days were numbered. However, seeing that Crown continues to face more scrutiny across Australia and may lose another gaming license in the country, Star has decided that it is better, for now, to step away and let the saga play out before making a move.
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EconomyMetro International

Factbox-Record-low rates spur Australia M&A frenzy in 2021

(Reuters) -Australia is seeing a flurry of deal-making so far this year, as record-low interest rates have given institutional investors and companies a well-funded war chest to chase higher valuations. From potentially one of Australia’s biggest-ever buyouts to a multi-party tussle for a troubled casino giant, here are some of...
EconomyPosted by
Reuters

Factbox: Record-low rates spur Australia M&A frenzy in 2021

(Reuters) - Australia is seeing a flurry of deal-making so far this year, as record-low interest rates have given institutional investors and companies a well-funded war chest to chase higher valuations. From potentially one of Australia’s biggest-ever buyouts to a multi-party tussle for a troubled casino giant, here are some...
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