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Bidding War Drives Share Jump for Australia's Largest Casino Company Crown Resorts has competing bids from Blackstone, Oaktree Capital and Australia's second-largest casino company, Star. Stocks quotes in this article: BX A billion-dollar bidding war among three would-be investors has emerged for Australia's largest casino operator, Crown Resorts (CWLDY). That in turn has given its shares another boost. For a company that runs casinos that has been told it's unfit to run casinos, it's doing pretty well. On Monday, the Blackstone Group (BX) raised its offer ...

Save Share A $12 billion merger with once bitter rival Crown Resorts would create the “BHP of gaming and hospitality” with an Australian network that would allow the group to compete globally for the next 20 years, The Star Entertainment Group chief executive Matt Bekier said. The prospect of a bidding war sent Crown shares up 7.26 per cent on Monday to a near two-year high of $13. The casino group also named former Lendlease boss Steve McCann as its new chief executive. Star CEO Matt Bekier has a 20-year vision for Crown and The Star.   James Alcock Crown stock has risen 28 per ...

The Star unveils Crown merger plans to create $12b gambling giant Casino operator The Star Entertainment Group has unveiled a bid to merge with James Packer's Crown Resorts to create a massive $12 billion gambling giant. In a statement to the ASX today, which outlined the merger proposal, The Star said in a 21-page document it believed the ACCC would not oppose the deal. The Star is working with Credit Suisse to establish financing for the potential deal, it said in the statement. James Packer remains the majority shareholder in Crown through his private company.(AAP) READ MORE:

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 L...

Casino group Star Entertainment has proposed merging with James Packer’s beleaguered Crown Resorts in a deal that would create a $12 billion gambling giant