Australia’s largest casino operator, the James Packer-backed Crown Resorts, recently rebuffed a takeover approach from Las Vegas casino giant Wynn Resorts, according to a report in The Australian Financial Review.
The Las Vegas-based Wynn Resorts made a confidential offer about a month ago for the $8 billion Crown Resorts, which runs casinos in Melbourne and Perth and is soon to open its newest high-end casino complex in Sydney’s harbourside Barangaroo, Street Talk reported on Tuesday.
ASX-listed Crown Resorts is Australia’s largest casino company.Credit:Bloomberg
Wynn Resorts was testing whether Crown’s board and shareholders had any appetite for a deal, the article quoted unnamed sources as saying.
Comment has been sought from Crown Resorts.
More to come