Western Australia gives conditional approval to Blackstone’s $6.3bn Crown deal


The approval follows that of New South Wales and Victoria this week and clears another hurdle for Blackstone on its way to completing its deal on the 37%-owned company by billionaire James Packer.

Western Australia’s independent casino regulator and the state’s racing and gaming minister, Tony Buti, approved the deal subject to “strict” conditions, including an additional audit and a commitment to invest in the casino. Crown Perth and maintain it, said the regulator.

Crown has been under pressure for years since damaging investigations revealed it was enabling money laundering, while COVID-19 and border closures have sent its profits and shares plummeting.

The deal must now be approved by the Australian Federal Court at a hearing on June 15.



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