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Announced

Completed

Blackstone completed the acquisition of a 10% stake in Crown Resorts from Melco Resorts for $358m.

Financials

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Transaction Value£289m
Consideration TypeCash
Capital Owned-
Capital Bid For10%
EV/Sales2x
EV/EBITDA6.1x
Share Price Premium-
One Off Charge-

Tags

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Hotels and Motels

resorts

Australia

Acquisition

Friendly

Completed

Private Equity

Minority

Single Bidder

Cross Border

Private

Synopsis

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Blackstone Group completed the acquisition of a 10% stake in Crown Resorts, a casino operator from Melco Resorts & Entertainment, an operator of resorts and casinos for $358m. The deal accomplishes Melco’s plan to exit its Crown holdings as casino companies around the world rein in spending to cope with a shutdown to slow the spread of the coronavirus.

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