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Blackstone tweaks conditions for $6 billion Australia Crown Resorts buyout

Australian casino operator Crown Resorts Ltd said private equity giant Blackstone Group Inc modified the conditions of a proposed $6 billion buyout, saying the target must not lose further state licences before the deal is approved. ....

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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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Host Hotels & Resorts Buys Hyatt Regency Austin

Host Hotels & Resorts Buys Hyatt Regency Austin
Hyatt noted that it will continue to manage Hyatt Regency Austin under a long-term management agreement.
As travel resumes, the company expects the well-located Hyatt Regency Austin to benefit from a strong rebound led by Austin s multiple leisure and business demand drivers that are anchored in world-renowned music festivals, sporting events and blue-chip corporations.
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S&P Global Ratings downgrades Foreign Currency LT credit rating of Host Hotels & Resorts LP to BB+ ; outlook negative
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Bahamas Resort Offering Free Stay If You Catch COVID On Vacation

Baha Mar resort in the Bahamas has introduced a 'Travel With Confidence' program to entice more Americans to go on vacation. ....

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