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Tag Archives: Blackstone Group

Australia – Crown rejects Blackstone offer but asks for more info from Star

Australian casino operator Crown Resorts has rejected a takeover bid from private equity and hedge fund group Blackstone, due to the offer undervaluing its assets and earnings potential but the door remains open to the merger proposal from Australian competitor Star Entertainment. Crown said: “The Board has carefully considered the revised proposal, [from The Blackstone…

Australia – Blackstone offers Crown a lifeline with $6.2bn bid

Blackstone Group has put forward a bid of $6.2bn to buy Australian casino operator Crown Resorts with the deal representing a huge markdown on the company’s value last year. Blackstone already has a shareholding of 9.99 per cent in Crown which it acquired from Melco Resorts & Entertainment Limited for $8.15 per share in April…

US – Blackstone approved for Cosmopolitan takeover

The Nevada Gaming Control Board has approved Blackstone Group, a private equity investment fund, to be licensed to buy Cosmopolitan Casino in Las Vegas. Blackstone said in May it wanted to purchase the Cosmopolitan from Germany-based Deutsche Bank for US$ 1.73bn. The company’s joint owner Tyler Henritze said: “We think there is a lot of…