Business
Crown Resorts takeover: How Blackstone’s Las Vegas experience will boost its Crown bid – The Australian Financial Review
Blackstone’s experience in rescuing an ailing casino in Las Vegas will be crucial to its tilt at Crown Resorts. But patience will be required if it is to win the…
Could Blackstone use the latter approach at Crown? Several observers have suggested the investment giant could bring in an overseas casino operator or team up with a local one.
JPMorgan analyst Don Carducci argued that Crowns local rival, The Star Entertainment Group, could earn up to $110 million a year from running Crowns properties for Blackstone.
This provides The Star with a significant value-creation opportunity without having to independently bid for Crown, he said.
Blackstone hasnt publicly…
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