Rob Rankin

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    Crown uses share proceeds to reduce debt

    Australia-listed Crown Resorts says it intends to initially use the proceeds of its A$1.34 billion (US$987 million) share sale to reduce net debt. The casino operator on Tuesday announced to the Australian Stock Exchange that it had agreed to sell all 165.3 million ordinary shares (11.2 percent of total shares) in Melco resorts for a […]

    Crown Sydney receives conditional planning approval

    Crown Resorts has received conditional approval for the construction of its Crown Sydney Hotel Resort at Barangaroo South, according to a filing to the Australian Stock Exchange on Tuesday. The NSW Planning Assessment Commission made the call, which includes approval of the modifications to Barangaroo’s concept plan. “This is an extremely important day for Crown,” […]

    Crown Resorts to split off international assets

    Australian casino operator Crown Resorts Ltd has announced it is considering setting up a new listed company to host some of its domestic assets to separate it from its international assets. The operator made the announcement in a press release on June 15 – which sets out a number of “major initiatives to enhance shareholder […]

    Crown acquires 20 percent interest in Nobu

    Crown Resorts announced that it has acquired a 20 percent ownership interest in the international restaurant and hotel company, Nobu, for $100 million. The other 80 percent will continue to be owned by the existing owners, entities associated with Nobu Matsuhisa, Robert De Niro and Meir Teper. “We see the Nobu brand as complementary to […]