Corporate equity giant Blackstone is a step closer to its takeover of Crown Resorts after gaming regulators in NSW and Victoria rule it is 'suitable' to hold a casino licence.
Corporate equity giant Blackstone is a step closer to its takeover of Crown Resorts after gaming regulators in NSW and Victoria ruled it was "suitable" to hold a casino licence.The equity giant has been subjected to an extensive probity assessmentThe approval means Blackstone has passed a crucial test in its bid to own and operate Crown's Sydney casino at Barangaroo.
"The probity assessment has also resulted in certain persons being approved to become "close associates" of Crown Sydney," he said. "This commitment is vital to ensure Crown Sydney is free from criminal influence and properly manages the risks of harm associated with casino activities." The inquiry's Commissioner Patricia Bergin said the company needed to make sweeping changes to its culture and corporate governance structure if it wanted to be considered a suitable operator.
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