{"id":147,"date":"2024-06-16T14:02:08","date_gmt":"2024-06-16T11:02:08","guid":{"rendered":"https:\/\/vegas2web.icu\/2024\/06\/16\/crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger\/"},"modified":"2024-06-20T17:05:47","modified_gmt":"2024-06-20T14:05:47","slug":"crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger","status":"publish","type":"post","link":"https:\/\/vegas2web.icu\/2024\/06\/16\/crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger\/","title":{"rendered":"Crown Resorts Rejects Blackstone&#8217;s Improved Bid, Eyes Potential Star Entertainment Merger"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/yqaZmPsfXvg\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Crown Resorts has declined an enhanced acquisition proposal from Blackstone Group, stating that the bid of A$12.35 per share fails to accurately represent the company&#8217;s worth. Blackstone had earlier presented an offer of A$11.85 per share, which was also dismissed. <\/p>\n<p>Following deliberations with financial and legal counsel, Crown&#8217;s board of directors maintains that Blackstone is underestimating their holdings. They highlighted their Sydney gaming establishment, currently operating at partial capacity, and the anticipation of substantial cash flow later this year from the sale of upscale Sydney apartments. <\/p>\n<p>In essence, Crown is adopting a firm stance. They contend that Blackstone&#8217;s proposition does not align with their potential, particularly with the Sydney casino poised for full operation and their debt diminishing. The extended acquisition timeframe and Blackstone&#8217;s demand to suspend shareholder dividends were also met with disapproval from the board. The message is unambiguous: Crown is receptive to a transaction, but only if the valuation is deemed acceptable. <\/p>\n<p>While Blackstone&#8217;s attempt to acquire Crown Resorts appears to be unsuccessful, the company remains active. The Crown board is giving serious thought to a consolidation proposition from Star Entertainment Group, currently examining the specifics to determine its feasibility.<\/p>\n<p>Crown indicated they&#8217;ve requested additional data from Star to thoroughly assess their proposal. This potential merger could significantly alter the Australian casino industry, attracting considerable attention from observers. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crown Resorts has declined an enhanced acquisition proposal from Blackstone Group, stating that the bid of A$12.35 per share fails to accurately represent the company&#8217;s worth. Blackstone had earlier presented an offer of A$11.85 per share, which was also dismissed. Following deliberations with financial and legal counsel, Crown&#8217;s board of directors maintains that Blackstone is [&hellip;]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crown Resorts Rejects Blackstone<\/title>\n<meta name=\"description\" content=\"Crown Resorts has declined an enhanced acquisition proposal from Blackstone Group, stating that the bid of A$12.35 per share undervalues the company\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vegas2web.icu\/2024\/06\/16\/crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crown Resorts Rejects Blackstone&#039;s Improved Bid, Eyes Potential Star Entertainment Merger\" \/>\n<meta property=\"og:description\" content=\"Crown Resorts has declined an enhanced acquisition proposal from Blackstone Group, stating that the bid of A$12.35 per share undervalues the company\" \/>\n<meta property=\"og:url\" content=\"https:\/\/vegas2web.icu\/2024\/06\/16\/crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger\/\" \/>\n<meta property=\"og:site_name\" content=\"Discover the Secrets of Casino Success | Licensed &amp; Trusted\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-16T11:02:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T14:05:47+00:00\" \/>\n<meta name=\"author\" content=\"Tyler &quot;Tango&quot; Stewart\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tyler &quot;Tango&quot; Stewart\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/vegas2web.icu\/2024\/06\/16\/crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger\/\",\"url\":\"https:\/\/vegas2web.icu\/2024\/06\/16\/crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger\/\",\"name\":\"Crown Resorts Rejects Blackstone\",\"isPartOf\":{\"@id\":\"https:\/\/vegas2web.icu\/#website\"},\"datePublished\":\"2024-06-16T11:02:08+00:00\",\"dateModified\":\"2024-06-20T14:05:47+00:00\",\"author\":{\"@id\":\"https:\/\/vegas2web.icu\/#\/schema\/person\/a0488a859643b1f4270c06c8a3432144\"},\"description\":\"Crown Resorts has declined an enhanced acquisition proposal from Blackstone Group, stating that the bid of A$12.35 per share undervalues the company\",\"breadcrumb\":{\"@id\":\"https:\/\/vegas2web.icu\/2024\/06\/16\/crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/vegas2web.icu\/2024\/06\/16\/crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/vegas2web.icu\/2024\/06\/16\/crown-resorts-rejects-blackstones-improved-bid-eyes-potential-star-entertainment-merger\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/vegas2web.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crown Resorts Rejects Blackstone&#8217;s Improved Bid, Eyes Potential Star Entertainment Merger\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/vegas2web.icu\/#website\",\"url\":\"https:\/\/vegas2web.icu\/\",\"name\":\"Discover the Secrets of Casino Success | Licensed &amp; Trusted\",\"description\":\"Explore the dynamic world of online gambling with our fresh casino news, honest game reviews, and informative insights. 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