Crown Resorts sells remaining Macau stake
Macau – 9 May 2017 –
Australian casino operator Crown Resorts has agreed to sell the remaining stake in its Macau venture for US$1.16 billion as the firm pursues a restructure amid a Chinese gambling crackdown.
Mogul James Packer’s company will exit its holding in Melco Resorts by offloading a final 11.2 percent holding to joint-venture partner Melco International on May 15, the Australian-listed firm announced, Agence France-Presse reported.
“Crown Resorts will no longer hold an interest in Melco Resorts,” the company said in a statement.
The sell-down will complete a Macau exit for Crown, which late … Read More