Australian casino operator Star Entertainment Group on July 23 withdrew a A$9 billion buyout proposal for rival Crown Resorts. In a statement, Star noted limited engagement with its target as well as issues raised at the state of Victoria’s Royal Commission into Crown Melbourne, which it said could impact the company’s valuation.
On July 20, Adrian Finanzio, a lawyer hired by Victoria as part of the inquiry into Crown, said that the company is not fit to hold a licence for its Melbourne casino. A federal judge will make a final decision on the matter no later than Oct. 15.Source: REUTERS/Stephen Coates/File Photo FILE PHOTO: Crown Resorts Ltd's flagship tower nears completion at Barangaroo, Sydney, Australia, April 17, 2020.
Reuters KatrinaHamlin good
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