In July, the firm announced that it was acquiring Aria Resort and Casino and its adjourning non-gaming property Vdara on the Las Vegas Strip for nearly $3.9 billion. Two months later, Blackstone said it was selling the operational rights of Aria neighbor Cosmopolitan to MGM Resorts for $1.6 billion.<\/strong><\/p>\nOn the Strip, Blackstone additionally owns the real estate assets of Bellagio, MGM Grand, and Mandalay Bay. MGM runs the casino and hotel operations of each.<\/p>\n
Blackstone acquired its nearly 10 percent ownership position in Crown from Melco Resorts in April of 2020 at AU$8.15 per share. Melco, one of the six casino operators in Macau, could be a likely suitor to operate the Crown casinos. That’s should Blackstone emerge as the landowner of the three resort properties.<\/p>\n","protected":false},"excerpt":{"rendered":"
Blackstone Group is leaving no stone unturned in its crusade to purchase Aussie casino giant Crown Resorts. The private equity behemoth remains bullish on the global gaming industry in the wake of COVID-19. The firm, led by billionaire Stephen Schwarzman, is refusing to fold on its dreams of fully controlling Crown. Blackstone, currently Crown’s second-largest […]<\/p>\n","protected":false},"author":25,"featured_media":192492,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,32093],"tags":[],"acf":[],"yoast_head":"\n
Crown Resorts Stock Soars Following Blackstone Latest Bid<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n