Zona de Azar Australia – Melco Sells Off Shares In Crown Resorts

Australia.- May 04, 2020 www.zonadeazar.comThe tie-up between Melco Resorts & Entertainment and Crown Resorts, who were former partners in Macau has now been cut. Melco was due to purchase a total of 19.9% of the Australian based casino resorts operator, however so far Melco had purchased 9.9% and was supposed to acquire the remainder.

However it was announced today that the 9.9% has been sold off to affiliates of the Blackstone Group and would not take up the option to acquire the other part of the deal in shares.

Melco bought the stake in May, 2019 but then followed investigations into corruption and money laundering and so what was hoped to be a great tie-up between two major operators has now completely finished.

Editó: @_fonta   www.zonadeazar.com