Harrah S Cherokee Casino Valet Parking ing on Boyd with a 12-month price target of , down from . The new forecast implies upside of 44. online casino kansas 5 percent from where the stock trades at this writing. Private equity colossus Blackstone (NYSE:BX) continues forging into the gaming business. The company is taking a nearly 10 percent stake in Australia’s Crown Resorts, and is getting those shares from Melco Resorts & Entertainment (NASDAQ:MLCO) at a deep discount. Blackstone is buying 10 percent of James Packer’s Crown Resorts from Lawrence Ho’s Melco on the cheap. liberty slots free coins (Image: Reuters)The private equity firm is paying 0 million for all of the Crown shares previously held by the Macau operator, meaning Melco sold that equity at prices that were 37. nugget casino reno room service

3 percent below what the company paid for the stock last year. Blackstone paid the equivalent of . golden nugget casino chips kansas star casino bingo 31 a share for 67. 67 million Crown shares. lucky dragon netflix Jamul Casino Facebook Glat Last year, Melco doled out . 42 a share for its stake in the Aussie gaming company controlled by James Packer. Free Online Poker With Real Players Qqhn The relationship between Lawrence Ho’s Melco and Packer’s Crown became frayed, as media reports surfaced in 2019 indicating that Ho may have been involved with a company barred from doing business with Crown.

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Earlier this year, the Australian state of New South Wales (NSW) launched an investigation into Crown’s licensing suitability for a Sydney gaming project. Much of that inquiry focusing on the operator’s relationship with Ho. pechanga casino hotel rooms coushatta casino win lob statement Saved by the VirusBy February, the coronavirus was adversely impactiriver spirit casino oklahoma cityng the Asia-Pacific gaming industry, giving Melco a plausible excuse to scrap the Crown deal. Like other gaming companies, the City of Dreams operator is searching for more cash, and the sale of its Crown stake, albeit at a loss, is an easy avenue for bolstering its balance sheet. red stag casino login australia In a recent regulatory filing, Melco said it has little visibility regarding when business will return to pre-virus levels in Macau. Amid plunging traveler numbers because of curbs imposed to contain the new coronavirus, Melco scrapped its planned purchase of a second 9. borgata casino in nj 99% stake in Crown from billionaire James Packer in a deal that had already raised regulatory concern,” reports Reuters.

Melco’s sale represents the latest in an ongoing saga for Crown investors, one that also included a brief 2019 flirtation with a takeover offer from Wynn Resorts (NASDAQ:WYNN). More Real Estate for BlackstoneFor Blackstone, the deal isn’t as much about potentially making a play to acquire Crown outright, but rather, finding ways to extract value from the gaming company’s enticing real estate assets. Blackstone, the owner of the Cosmopolitan Las Vegas, is a growing force in the casino real estate business, recently acquiring the Bellagio from MGM Resorts International (NYSE:MGM) and partnering with MGM Growth Properties (NYSE:MGP) to purchase the real estate of Mandalay Bay and MGM Grand. is winstar the largest casino in the world Crown’s Australian property assets are valued at just over billion. Casino Poker Tournaments Bvve Those include Crown Melbourne and Crowriver spirit casino oklahoma cityn Perth. coolcat casino review Watch Blackjack 1998 Online Free Blts The company also owns Betfair Australasia, half of Aspers Group, and a 20 percent interest in Nobu, the posh hotel and restaurant consortium. soaring eagle casino box office mt pleasant mi liberty slots coupon With the coronavirus outbreak still weighing on the gaming industry, it’s not surprising that analysts are divided on how the health crisis is affecting individual operators’ financial results.

But when it comes to Wynn Resorts (NASDAQ:WYNN), there’s nothing close to a consensus. casino cast resorts casino poker room Dispersion data indicate no one knows what to expect with Wynn 2020 earnings. (Image: Twitter)This year, Wynn is dealing with temporary closures of its two Las Vegas Strip Venues and Encore Boston Harbor by COVID-19. Those shutdowns follow a 15-day halt in business in Macau, a market that in any given quarter can account for two-thirds to 80 percent of the operator’s earnings and revenue. Although Wynn stock more than