Crown Resorts has two offers on the table for its casino business in Australia. The seekers are The Star Entertainment Group and Blackstone Group.
Acrobats perform outside The Star casino in Sydney. The resort’s parent company, The Star Entertainment Group, is making a play to acquire competitor Crown Resorts. (Image: The Star Entertainment Group)
Blackstone, the private equity business of billionaire Stephen Schwarzman, has been targeting Crown since March. Blackstone is looking to expand its global footprint in the gaming industry.
The group currently owns the physical assets of several Las Vegas Strip properties, including the Bellagio, Cosmopolitan, Mandalay Bay, and MGM Grand.