For months there have been new headlines about Australia’s acquisition of Crown Casino. Several offers were repeatedly rejected by the Crown Game Group because the price did not appear to be high enough. But there was one bidder from the start and repeatedly increased his offer: Blackstone. The last offer was successful and has now been accepted by the Crown.
Blackstone will pay nearly 9 billion Australian dollars
Last year’s offer was repeatedly rejected by The Crown on the grounds that prices seemed too low. In January this year, Blackstone raised the price per share and now offered $13 per share. Since this price seemed appropriate for Crown, Blackstone signed an acquisition deal. Shareholder approval is still pending because all of this was done at the managing director level. However, according to a news channel, directors will advise shareholders to accept the offer.
Management makes a strong case for this: The price offered in November 2021 is 30% above the market value. Therefore, Crown’s CEO said the proposed price reflects the company’s value. The proposal also indicates that the service and quality of the game experience of the game group is known and valuable worldwide.
In order for the acquisition to actually take place, 75% of all shareholders need to approve it, which is very likely because the stock market is already positive and the stock price has risen more than 2%.
Blackstone already co-owns Crown
Blackstone’s interest in The Crown was not accidental. Blackstone already owns 10% of the gaming group and wants to lead the company in the right direction after the acquisition. In recent years, Crown has had to deal repeatedly with allegations including money laundering. The allegations were initially denied but admitted after reviewing all accounts. 온라인카지노
With the allegations confirmed, Crown Casino has faced several changes. The board had to be changed and several measures were imposed on the group. Finally, the Crown lost its license for the newly built casino in ovarian powder and was unable to open at the scheduled time. Last month, it was announced that the opening would take place soon. The Crown has complied with all required compliance rules so far. Examples include:
All customers, especially customers, should check where they got their money from. The first step is to investigate whether the money comes from criminal activity. In the end, this problem has been present in the past, and the Crown knew it and did nothing. Crown was also banned from further contact with junket traders.