Blackstone completes acquisition of Crown

Blackstone has completed the acquisition of Crown Resorts in the largest transaction to date for the firm in Asia Pacific.

The transaction comprises three premium resort and casino properties in Melbourne, Perth and Sydney.

Blackstone will work with the management team at Crown and its thousands of dedicated employees, as well as their representatives from the United Workers Union and other partner unions, to transform these properties into world-class entertainment destinations and continue Crown’s transformation to operate at the highest standards of compliance, governance and integrity.

As one of Australia’s largest entertainment groups, Crown makes a major contribution to the Australian economy. Crown’s core businesses include two of Australia’s leading integrated resorts, Crown Melbourne and Crown Perth, as well as Sydney’s latest premium hotel resort and dining precinct at Crown Sydney.