Morongo Casino Careers ing on Boyd with a 12-month price target of , down from . doubledown casino cheat codes The new forecast implies upside of 44. choctaw casino tim mcgraw free online poker lebons 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. intertops casino software 3 percent below what the company paid for the stock last year. Blackstone paid the equivalent of . 31 a share for 67. 67 million Crown shares. foxwoods online betting hallmark casino mobile bonus code Last year, Melco doled out .

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42 a share for its stake in the Aussie gaming company controlled by James Packer. 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. peppermill casino opening date seneca niagara casino 4th of july fireworks Earlier this year, the Australian state of New South Wales (NSW) launched an investigation into Crown’s licensing suitability for a Sydney gaming project. thunder valley slots Free Casino Slot Games With Bonus Rounds Awkf Much of that inquiry focusing on the operator’s relationship with Ho. fanduel stardust casino jersey city nj Saved by the VirusBy February, the coronavirus was adversely impactimgm casino resortng 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.

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. Admiral Casino Games Biz Usa Login Olgq 99% stake in Crown from billionaire James Packer in a deal that had already raised regulatory concern,” reports Reuters. slot machine casino seattle 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.

Crown’s Australian property assets are valued at just over billion. golden nugget casino mibibippi Those include Crown Melbourne and Crowmgm casino resortn Perth. online casino 5 pound deposit seven feathers casino hotel discounts The company also owns Betfair Australasia, half of Aspers Group, and a 20 percent interest in Nobu, the posh hotel and restaurant consortium. Downstream Casino Rv Park Bhlc 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. Sam Town Casino Las Vegas Bavh 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. downstream casino sports betting 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 doubled off its 52-week black hawk casino iowa