Blackstone buys Casinos Crown Resorts

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The American investment background Blackstone has just made a masterful poker. For several years already, this background, created in 1985 and directed by Peter G. Peterson and Stephen A. Schwarzman, has largely invested the entertainment sector (leisure parks, hotels), and more particularly that of casinos. To his credit, let us quote the acquisition of COURA GAMING CORP (Spain), the Casino Joa (USA), or the Cosmopolitan Las Vegas (United States) to name a few. In March 2021, Blackstone threw a pavement in the pond by making a remarkable buyout offer at Crown Resorts, one of the most powerful casinos in Australia. This offer, according to experts, would amount to $ 6.2 billion and would be 20% of the real value of the Crown Resorts group. The repository proposal is " Unlined, non -binding and indicative ». Note that the Blackstone investment background already has 9.99% of the capital of Crown Resorts since April 2020. If this proposal is transformed into a real buyout offer, Blackstone will have to convince Australian regulators on its ability to manage Casinos of this vast country.

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An offer that falls out

It goes without saying that the Crown Resorts group will study more closely this proposal which could be akin to a gift from the sky. And for good reason ! On the one hand, the Blackstone investment background has carved out a solid reputation in just twenty years in The world of gambling. In 2020, the investment fund exceeded the Goldman Sachs & Morgan Stanley investment banks in terms of market capitalization. In 2007, Blackstone made the headlines of the American media with the acquisition of the Hilton group for $ 20 billion. Between judicious investments and renowned and publicized leading heads (Stephen A. Schwarzman, co-leader, was an advisor and member of the cabinet of former president Donald Trump, also owner of Casinos), Blackstone is a reliable, powerful and visionary investor.

CASINOS CROWN resorts to the worst

On the other hand, Crown Resorts is under the spotlight, but for very bad reasons ... Indeed, the Australian group of Casinos is at the very least abused by public inquiries which come to tarnish its image and its reputation. Following revelations published in the Australian press, Crown Resorts was accused of whitening dirty money linked to drug trafficking, human trafficking, the sexual exploitation of children but also to terrorist activities. A rough blow for Crown Resorts which hoped to open a grand casino in Sydney. The authorities have stopped their desire for expansion. The license necessary for the opening of this vast complex - with a 75 -storey tower, built on the bay of Sydney- was purely and simply refused following these serious suspicions. Due to this long crossing of the desert, the CEO of Crown Resorts, three of its directors and many other thinking heads of the group, resigned. The Blackstone investment background, by putting this extraordinary buy -off proposal on the table could quickly win Australian burial. A master stroke. To be continued…

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