Australia's Crown Resorts climbs after Blackstone wins key approvals for buyout

Chineseworldnet.Com

09/06/2022 01:56

** Shares of casino operator Crown Resorts  CWN.AX  climb as
much as 1.9% to A$12.995, set to mark their best day since Feb
14, if gains hold
    ** Co says gaming authorities in Victoria and New South
Wales approved U.S. private-equity firm Blackstone Inc's  BX.N 
$6.3 billion takeover of Crown Resorts  urn:newsml:reuters.com:*:nL4N2XW02H
    ** Stock hits highest since May 31
    ** NSW Independent Liquor and Gaming Authority has approved
Blackstone's fitness to hold a casino licence in the state,
opening the way for the business to take over the Crown Sydney
casino
    ** Crown says the takeover by Blackstone remains subject to
the receipt of gaming regulatory approval in Western Australia
    ** Says gaming regulatory approval in Western Australia
remains outstanding, and the date for the final court hearing
has not yet been fixed
    ** Crown stock up 6.6% YTD, as of last close 
    


 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))