Business
Crown casino: how property boom gives board an ace in Blackstone bid – The Australian Financial Review
Surging property prices have helped strengthen Crown’s balance sheet, giving it the ammunition to push for a higher takeover bid from Blackstone or others.
Crowns apartment sales windfall came amid a broader pick-up in property prices that continue to amaze.
Sydney set a record for the most expensive apartment ever sold at auction last Saturday, when online gambling baron Joshua Chan paid $20.1 million for a penthouse at Bondi Beach.
Still, its worth noting that sales of the 82 residences at One Barangaroo started slowly; three years ago, only a quarter of the super-expensive pads had been sold, including one to Packer, who paid $60 million for an…
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