Following the granting of approvals in New South Wales and Victoria for Blackstone to acquire Australian operator Crown Resorts, the final hurdle has been leapt in Western Australia.
Now Blackstone has the nod from the authorities in all three states where Crown has casinos.
The latest was in Perth, Western Australia, where the state’s Racing and Gaming Minister, Tony Buti, said that he and the Gaming and Wagering Commission had approved the transfer – but with strict conditions.
They include a ban on institutional investors becoming involved in the day-to-day running of Crown Perth, enhanced reporting on AML and responsible gaming activities and extra auditing requirements.
The A$8.9bn (US$6.3bn) takeover now has to be approved by the Federal Court.
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