A deal between Crown and Star would be a good chance to dilute James Packer’s outsize influence in the industry — just don’t expect it anytime soon.
Has there ever been a public company as besieged as Crown Resorts?
This week alone we’ve seen Star Entertainment’s $12.7 billion merger proposal, an increased takeover bid from US private equity giant Blackstone, the commencement of the WA royal commission hearings into the company, the appointment of Steve McCann as CEO, and then yesterday’s comprehensive deal with NSW regulator the Independent Liquor and Gaming Authority (ILGA).
Come Monday, we’ve got the start of hearings at Victoria’s Crown royal commission.
What is the ACCC’s reaction to Star’s proposal? Keep reading.
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