Threeâs a crowd at Crown; BGH runs numbers
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BGH Capital is considering rolling the dice at Crown Resorts.
As American private equity groups Blackstone and Oaktree Capital try to get Crown to engage on their respective indicative offers, it is understood the purveyor of Australiaâs biggest buyout fund is thinking about a run of its own.
Street Talk. Â
Chris Hopkins
Sources said BGH Capital had yet to make an offer, or formally approach Crown, although the targetâs camp is aware of a handful of interested parties. Blackstone and Oaktree are just two.
The big question is how BGH Capital would fund such a proposal, and whether it could go head to head with a global buyout titan and experienced casino operator like Blackstone. The Australian firm has a $2.6 billion buyout fund and typically writes cheques worth up to a few hundred million dollars.