About: http://data.cimple.eu/news-article/8c4bf395e5f7b0555045f2bc0d196d5573ff9aa2c3e3587ce755bd95

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/8c4bf395e5f7b0555045f2bc0d196d5573ff9aa2c3e3587ce755bd95 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Troubled Australian casino operator Crown Resorts rejected a takeover bid from US private equity giant Blackstone on Monday, saying the offer "undervalues" the gaming group. The casino operator, which is subject to multiple inquiries into allegations of money laundering and ties to organised crime, said the bid of more than Aus$8 billion (US$6.2 billion) was not in the best interests of shareholders. Crown said it was still studying a separate merger proposal by rival Australian casino operator Star Entertainment Group. Blackstone launched its bid in March, just weeks after regulators refused to grant Crown a licence to run its flagship casino in a gleaming 75-storey Sydney tower, owing to suspected links to organised crime. Authorities acted on the recommendations of a public inquiry, which reported Crown had been "facilitating" money laundering through so-called "high roller" gambling junkets linked to Chinese triads and other organised criminal groups. Blackstone, which owns a 9.99 percent stake in Crown, had already revised its offer from an initial Aus$11.85 per share to Aus$12.35. But the Crown board told the Australian Securities Exchange (ASX) the bid still "undervalues" the company, while regulatory requirements "present an unacceptable level of regulatory uncertainty for Crown shareholders". In a separate statement to the ASX, the board said it was still considering Star's proposal, which offers a combination of Star shares and cash to Crown shareholders. The proposed merger would create a dominant $12 billion (US$9.3 billion) casino group that would probably face close scrutiny from the Australian Competition and Consumer Commission to proceed. Crown and its largest shareholder, media scion James Packer, have been in the spotlight over allegations that its casinos in Melbourne and Perth were used to launder the proceeds of crime. Crown's then CEO and three long-time directors resigned in the wake of the Sydney inquiry, while executive chairman Helen Coonan accepted its findings as "warranted". State authorities have also announced probes into the operations of Crown in the two cities. The company last week said it would move toward cashless operations in a bid to stamp out money laundering, after an earlier announcement it would end all dealings with big-money junket operators. hr/dm/leg
schema:headline	Crown Resorts rejects Blackstone takeover bid
schema:mentions	Private equity Perth The Blackstone Group Gambling Organized crime Casino Money laundering Melbourne Sydney Australia Chief executive officer Star Entertainment Group Sydney Tower Triad (organized crime) Helen Coonan Crown Resorts High roller James Packer Public inquiry Australian Securities Exchange Core product
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-05-17 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	82 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 3 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software