Asia Gaming Brief Asia Editor Felix Ng sits down with JP Morgan Equity Research Analyst Don Carducci about some of the recent bids for Crown Resorts’ shares, as well as a surprise merger proposal from rival casino operator The Star Entertainment Group.
Opportunistic bidders hoping to capitalize on fears that Crown won’t be granted a NSW license may have to reassess what they’ve put on the table, following an ILGA announcement that Crown would be on track to open its Sydney casino operations by October.
Sources are pointing at another potential suitor for Crown Resorts’ shares, Hong Kong-listed CC Land Holdings.
Crown Resorts said a group of funds advised by Oaktree Capital Management has offered to help the company by buying back up to $3 billion worth of shares held by James Packer’s Consolidated Press Holdings.
Blackstone, now bidding for ownership of Crown Resorts, has announced a binding agreement to buy eight hotels in Japan from Kintetsu Group Holdings, including one very close to Yumeshima in Osaka, expected to become host to its own major IR.