The Crown has reencountered regulatory issues. Is it going to be another crash?
The Western Australian Parliament declared that Crown Resorts $Crown Resorts Ltd (CWN.AU)$ was unfit to hold their Perth casino license, but did not call for Crown to be stripped of its license after receiving a 1,000-pages report from the investigation team, the information is expressing that the casino giant should undertake remedial work to make it fit for purpose and called for an independent oversight body to be established to monitor its operations in this regard.
Meanwhile, the Western Australian Parliament has given the Crown Group two years to rectify the situation, and the independent body will oversee the process.
On the other hand, Blackstone, the US consortium, stated that they would acquire Crown Group for A$8.9 billion. The acquisition is currently awaiting approval from regulators and shareholders and is expected to be completed by this year.
Did they see that coming? How do you expect the development of casino stocks? Leave your comments below.
Meanwhile, the Western Australian Parliament has given the Crown Group two years to rectify the situation, and the independent body will oversee the process.
On the other hand, Blackstone, the US consortium, stated that they would acquire Crown Group for A$8.9 billion. The acquisition is currently awaiting approval from regulators and shareholders and is expected to be completed by this year.
Did they see that coming? How do you expect the development of casino stocks? Leave your comments below.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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