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

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.