{"id":157,"date":"2024-06-17T07:08:14","date_gmt":"2024-06-17T04:08:14","guid":{"rendered":"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/"},"modified":"2024-06-20T17:01:36","modified_gmt":"2024-06-20T14:01:36","slug":"blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition","status":"publish","type":"post","link":"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/","title":{"rendered":"Blackstone Receives Court Approval for $8.9 Billion Crown Resorts Acquisition"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/1Hf-PBgn-4U\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Australias Federal Court has approved Blackstone&#8217;s purchase of Crown Resorts, clearing the path for a colossal $8.9 billion transaction (equivalent to roughly $6.2 billion in American currency).  With this last obstacle overcome, Crown Resorts is poised for a change in ownership.<\/p>\n<p>Formal sanction was granted to the agreement upon Crown Resorts&#8217; filing of the court&#8217;s directive with the Australian Securities and Investments Commission.  This action effectively solidifies the arrangement, leading to a halt in the trading of Crown&#8217;s stock.  It is important to note, however, that Crown&#8217;s subordinated debt securities will remain tradable on the ASX under the symbol &#8216;CWNHB&#8217;.  On the subject of the ASX, Crown Resorts will be delisted from the S&#038;P\/ASX 200 Index prior to the commencement of trading on Monday, June 20th.<\/p>\n<p>This judicial determination comes on the heels of endorsements from gaming regulatory bodies in both Victoria and New South Wales, which gave their assent to the transaction earlier this month.  These approvals were not unconditional, however.  The Victorian Gambling and Casino Control Commission (VGCCC), for example, stressed the necessity of heightened scrutiny of Crown&#8217;s casino activities to preserve its standing as a leading gambling destination within Australia.<\/p>\n<p>Having satisfied all regulatory requirements, the concluding phase of the acquisition process, known as scheme implementation, is scheduled for June 24th.  On that date, stockholders will receive a substantial A$13.10 in cash for each Crown share they possessed as of Friday, June 17th. <\/p>\n<p>This concludes a hostile acquisition attempt that commenced in March of 2021 with an opening proposal from Blackstone. Although the initial bids were declined, Blackstone eventually prevailed with an enhanced agreement in the beginning of 2022, securing the approval of both the Crown Resorts board of directors and its investors. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australias Federal Court has approved Blackstone&#8217;s purchase of Crown Resorts, clearing the path for a colossal $8.9 billion transaction (equivalent to roughly $6.2 billion in American currency). With this last obstacle overcome, Crown Resorts is poised for a change in ownership. Formal sanction was granted to the agreement upon Crown Resorts&#8217; filing of the court&#8217;s [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blackstone Conquers Crown: $8.9 Billion Deal Finalized<\/title>\n<meta name=\"description\" content=\"The gavel slams down! Blackstone\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone Receives Court Approval for $8.9 Billion Crown Resorts Acquisition\" \/>\n<meta property=\"og:description\" content=\"The gavel slams down! Blackstone\" \/>\n<meta property=\"og:url\" content=\"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"Embark on a Thrilling Casino Adventure | Licensed &amp; Trusted\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-17T04:08:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T14:01:36+00:00\" \/>\n<meta name=\"author\" content=\"Joseph &quot;Jester&quot; Adams\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joseph &quot;Jester&quot; Adams\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/\",\"url\":\"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/\",\"name\":\"Blackstone Conquers Crown: $8.9 Billion Deal Finalized\",\"isPartOf\":{\"@id\":\"https:\/\/godofgambling.icu\/#website\"},\"datePublished\":\"2024-06-17T04:08:14+00:00\",\"dateModified\":\"2024-06-20T14:01:36+00:00\",\"author\":{\"@id\":\"https:\/\/godofgambling.icu\/#\/schema\/person\/10155130defd671ba2aaa51237d1bec3\"},\"description\":\"The gavel slams down! Blackstone\",\"breadcrumb\":{\"@id\":\"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/godofgambling.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Blackstone Receives Court Approval for $8.9 Billion Crown Resorts Acquisition\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/godofgambling.icu\/#website\",\"url\":\"https:\/\/godofgambling.icu\/\",\"name\":\"Embark on a Thrilling Casino Adventure | Licensed &amp; Trusted\",\"description\":\"Unlock the secrets of casino success with our comprehensive news, in-depth game reviews, and informative articles. Experience the best of licensed online gambling at our platform.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/godofgambling.icu\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/godofgambling.icu\/#\/schema\/person\/10155130defd671ba2aaa51237d1bec3\",\"name\":\"Joseph \\\"Jester\\\" Adams\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/godofgambling.icu\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/godofgambling.icu\/wp-content\/uploads\/sites\/24\/2024\/06\/man-avatar-96x96.png\",\"contentUrl\":\"https:\/\/godofgambling.icu\/wp-content\/uploads\/sites\/24\/2024\/06\/man-avatar-96x96.png\",\"caption\":\"Joseph \\\"Jester\\\" Adams\"},\"description\":\"This talented writer holds a Master's degree in Mathematics and a Bachelor's in Economics. They have a strong foundation in game theory, microeconomics, and econometrics, which they apply to the study of strategic interactions and decision-making in casino settings. Their articles and news pieces provide readers with a unique perspective on the economic forces shaping the gambling industry and the strategies used by casinos to maintain competitiveness. They are passionate about educating readers on the importance of rational decision-making and responsible gambling practices.\",\"url\":\"https:\/\/godofgambling.icu\/author\/rweytrfgdafdsdsa\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Blackstone Conquers Crown: $8.9 Billion Deal Finalized","description":"The gavel slams down! Blackstone","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/","og_locale":"en_GB","og_type":"article","og_title":"Blackstone Receives Court Approval for $8.9 Billion Crown Resorts Acquisition","og_description":"The gavel slams down! Blackstone","og_url":"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/","og_site_name":"Embark on a Thrilling Casino Adventure | Licensed &amp; Trusted","article_published_time":"2024-06-17T04:08:14+00:00","article_modified_time":"2024-06-20T14:01:36+00:00","author":"Joseph \"Jester\" Adams","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Joseph \"Jester\" Adams","Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/","url":"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/","name":"Blackstone Conquers Crown: $8.9 Billion Deal Finalized","isPartOf":{"@id":"https:\/\/godofgambling.icu\/#website"},"datePublished":"2024-06-17T04:08:14+00:00","dateModified":"2024-06-20T14:01:36+00:00","author":{"@id":"https:\/\/godofgambling.icu\/#\/schema\/person\/10155130defd671ba2aaa51237d1bec3"},"description":"The gavel slams down! Blackstone","breadcrumb":{"@id":"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/godofgambling.icu\/2024\/06\/17\/blackstone-receives-court-approval-for-8-9-billion-crown-resorts-acquisition\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Homepage","item":"https:\/\/godofgambling.icu\/"},{"@type":"ListItem","position":2,"name":"Blackstone Receives Court Approval for $8.9 Billion Crown Resorts Acquisition"}]},{"@type":"WebSite","@id":"https:\/\/godofgambling.icu\/#website","url":"https:\/\/godofgambling.icu\/","name":"Embark on a Thrilling Casino Adventure | Licensed &amp; Trusted","description":"Unlock the secrets of casino success with our comprehensive news, in-depth game reviews, and informative articles. Experience the best of licensed online gambling at our platform.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/godofgambling.icu\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/godofgambling.icu\/#\/schema\/person\/10155130defd671ba2aaa51237d1bec3","name":"Joseph \"Jester\" Adams","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/godofgambling.icu\/#\/schema\/person\/image\/","url":"https:\/\/godofgambling.icu\/wp-content\/uploads\/sites\/24\/2024\/06\/man-avatar-96x96.png","contentUrl":"https:\/\/godofgambling.icu\/wp-content\/uploads\/sites\/24\/2024\/06\/man-avatar-96x96.png","caption":"Joseph \"Jester\" Adams"},"description":"This talented writer holds a Master's degree in Mathematics and a Bachelor's in Economics. They have a strong foundation in game theory, microeconomics, and econometrics, which they apply to the study of strategic interactions and decision-making in casino settings. Their articles and news pieces provide readers with a unique perspective on the economic forces shaping the gambling industry and the strategies used by casinos to maintain competitiveness. They are passionate about educating readers on the importance of rational decision-making and responsible gambling practices.","url":"https:\/\/godofgambling.icu\/author\/rweytrfgdafdsdsa\/"}]}},"_links":{"self":[{"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/posts\/157"}],"collection":[{"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/comments?post=157"}],"version-history":[{"count":1,"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/posts\/157\/revisions"}],"predecessor-version":[{"id":163,"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/posts\/157\/revisions\/163"}],"wp:attachment":[{"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/media?parent=157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/categories?post=157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/godofgambling.icu\/wp-json\/wp\/v2\/tags?post=157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}