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James Packer s private firm open to Blackstone s $6 billion buyout proposal for Crown Resorts

By Reuters Staff 2 Min Read FILE PHOTO: The Crown Casino complex is pictured in Melbourne March 19, 2016. REUTERS/Jason Reed//File Photo (Reuters) -Billionaire James Packer’s Consolidated Press Holdings (CPH) said on Tuesday it was open to considering private equity firm Blackstone Group Inc’s A$8.02 billion ($6.13 billion) proposal to buy Australian casino operator Crown Resorts Ltd. Blackstone in March had proposed to buy Crown Resorts in a deal valuing the troubled casino operator at $6.2 billion, a markdown from its value a year ago but a possible reprieve from regulatory pressure. Top shareholder Packer has been heavily criticized over his alleged influence over Crown despite quitting the board in 2018, with an enquiry by a state asking for a resolution on the ownership before allowing the company to hold a casino license in New South Wales.

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