Business
Star might shine for Packer’s Sydney casino if Crown is broken apart – Sydney Morning Herald
A possible break-up of Crown could put Star Entertainment in the box seat for the group’s Sydney casino.
Billionaire James Packers Crown Resorts was put in play this week, when the worlds biggest private equity firm Blackstone made a bid for the embattled gambling company.
And while Blackstones cash bid at $11.85 a share, valuing the company at $8 billion, was widely viewed as opportunistic, it focused attention on the value that could be unlocked if Crown was broken up.
Crown Resorts gleaming $2.2 billion casino and luxury resort that sits on Sydneys foreshore. Credit:Bloomberg
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