Lucky Land Slots Reviews ing on Boyd with a 12-month price target of , down from . The new forecast implies upside of 44. does turtle lake casino require masks hallmark casino bonus codes july 2021 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. (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. viejas casino bingo promotions

3 percent below what the company paid for the stock last year. Online Gambling Ny News Xjwa Blackstone paid the equivalent of . is mohegan sun casino pet friendly Download Lucky Tiger Casino Jrfd 31 a share for 67. 67 million Crown shares. online gambling debit card Last year, Melco doled out . 42 a share for its stake in the Aussie gaming company controlled by James Packer. clearwater casino pool open 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. morongo casino on your birthday who owns hard rock casino in lake tahoe Much of that inquiry focusing on the operator’s relationship with Ho. little river casino concerts 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. Jamulcasinosd Com Rfet 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. mohegan sun casino update 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. casino extreme free spins 99% stake in Crown from billionaire James Packer in a deal that had already raised regulatory concern,” reports Reuters. safest online slots real money no deposit bonus casino new

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 luckyland slots legit reddit gold coast casino login Crown’s Australian property assets are valued at just over billion. Those include Crown Melbourne and Crowriver spirit casino oklahoma cityn Perth. blackjack casino table games The company also owns Betfair Australasia, half of Aspers Group, and a 20 percent interest in Nobu, the posh hotel and restaurant consortium. 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. Cache Creek Casino Data Breach Xlry

But when it comes to Wynn Resorts (NASDAQ:WYNN), there’s nothing close to a consensus. 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