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Sydney (Australia), March 22 (EFE).- The Australian casino operator Crown Resorts announced on Monday that it agreed to sell it for some 8.9 billion Australian dollars (6.349 million US dollars or 5.587 million euros) to the US investment fund Blackstone, following months of negotiations and a series of scandals.
Crown Resorts said in a statement that it will recommend to shareholders that they accept Blackstone’s offer of A$13.10 (US$9.35 or €8.23) per share at a general meeting scheduled for mid-year.
The chairman of the board of directors of Crown Resorts, Ziggy Switkowski, said that despite the steps taken to face various challenges of the business group, the investigations and the covid pandemic, “uncertainty” continues to reign over its future, and he noted that the Blackstone’s offer is 11 percent higher than the one made nearly a year ago.
The transaction, which has been unanimously recommended, is conditional on the Oceanic country’s gaming regulators allowing Blackstone to own and operate Crown’s casinos in Sydney, Melbourne and Perth.
Crown, in which tycoon James Packer owns 37 percent of the shares, faces a series of scandals including the suspension of its license to operate in Sydney following a government investigation determined in early 2021 that the company cannot operate. a casino due to alleged mob infiltration and money laundering activities.
Likewise, a commission from the government of the region of Victoria on the operations of the Melbourne casino uncovered last year a series of ethical and legal violations in its facilities, although it did not cancel its license, according to The Age newspaper.
(c) EFE Agency
