may engage, according to Deutsche Bank AG.Ī representative for Crown, which owns casinos in Melbourne and Perth and is building a third in Sydney, declined to comment on the leaked talks with Wynn or why they broke down so abruptly. With the Wynn talks on hold for now, rival suitors such as Hard Rock International Inc. After surging 20 percent on the talks with Wynn, Crown stock retreated just 9.1 percent when the discussions collapsed. It looked like a tried-and-tested play to root out aīut with Crown now known to be on the market, Packer may yet land a deal. The discussions were initially reported in the Australian Financial Review, a local newspaper, and confirmed shortly later by Crown. Wynn said they were revealed too soon and ended negotiations. and said the two companies were discussing a deal. That’s why a once-in-a-generation opportunity to buy established resorts in Australia couldĬrown Resorts Ltd., controlled by billionaire James Packer - the one-time fiancé of singer Mariah Carey - this week disclosed a A$9.99 billion ($7.12 billion) takeover offer from Wynn Resorts Ltd.
SYDNEY: Forced to anchor in licensed clusters in Las Vegas and Macau, the world’s biggest casino operators rarely get a free shot at expansion.
