It comes one day after the Victorian Gambling and Casino Control Commission (VGCCC) and the NSW Independent Gaming and Liquor Authority (ILGA) approved Blackstone’s proposed acquisition.
The company is awaiting the return of its casino licence for Barangaroo,which was suspended in late 2020 amid the ILGA’s damning public inquiry into its operations,which foundCrown was unfit to operate.
The NSW report found Crown needed a management overhaul if it ever wanted to hold a casino licence,and the state’s gambling regulator should reconsiderJames Packer’s involvement.
The NSW government was expected toreview and approve Crown’s licence earlier this week and allow the company to enter its final court hearing to finalise Blackstone’s takeover. A decision by the NSW government is expected before the end of the month. The licence is expected to have strict conditions and allow the gambling giant to operate for an initial two-year period.
The deal will see the gaming billionaire James Packer walk away with $3.3 billion after he sells his 37 per cent stake in Crown to Blackstone.
On Wednesday,Crown Resorts chief executive Steve McCann was optimistic about the casino’s near future. “We are very close,” he said of work with the regulator and NSW government to get its licence approved.