Is Blackstone Buying Crown Resorts?

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Blackstone Crown

With all the trouble that the crown casino seems to be in. It would be expected if they were to just bail out and call it quits. The real money gaming providers recently had their license revoked.

And, a lot of scandals seems to just be brewing up. But, will this all die out considering that they are one of the biggest casinos in Australia right now? But, Blackstone has already chipped in and made its offer on how much they can buy what seems to be the crumbling casino right now.

Blackstone Makes A Billion Dollar Offer

Crown casino investors have rejected the $8 billion offer that was made by Blackstone. This was done in the hopes that the casino may end up selling from more than that After all, they have quite a good reputation in Australia right now.

Obviously, a lot of gambling entities are going to try and buy into this giant and maximise on this opportunity. By the end of the week, Blackstone may not be the only entity that will be making its offer to purchase the casino. This may just be a gamble, what if this was the best offer that they could have gotten. But, it’s all about making the gamble.

Crown Casino Seems to Be Doing Well Amidst all the Scandal

Even though the gambling license has been revoked, the share so of the gambling platform are still soaring high. It turns out that the investors could have made the right choice by denying the Blackstone offer so far.

This was after it turns out that the shares were even 21% higher and sold at $11.97 and was higher than the $11.85 offer that was originally made.

A Chance for the Competition

Star casino must be elated at the idea of their competition being potentially knocked off the gambling scene.  The casino had just recently launched its billion-dollar high roller casino which was such a big threat to STAR. Eventually, even if all the drama ends up burning out, they would have maximised on the gap that has been created right now.

Conclusion

A lot of Crown casino loyalists might just be going through a lot after having to settle for the smaller casinos in hopes that their casino will open up soon. But, considering that Blackstone has already chipped in with an offer, there may just be little hope left for the gamblers.

FAQs

Can a casino operate without a license?
While an online casino can get away with it, land casinos cannot operate without being licensed by the right authorities.
Will the crown casino be open for gamblers?
As soon as the casino rectifies the issues that are being highlighted, then they can begin to operate.
How many Crown Casinos are they?
Crown casino is one of the biggest gambling establishments in Australia. It also has several building in different parts of the world as well.