CWN) recently rebuffed a bid from Wynn Resorts: report

Australia’s largest casino operator, the James Packer-backed Crown Resorts, is in confidential discussions regarding a potential takeover by the Las Vegas-based casino giant Wynn Resorts.

The $8 billion Crown Resorts – which owns casinos in Melbourne, Perth and London and is soon to open a new high-end casino in Sydney’s harbourside Barangaroo – is considering a cash-and-scrip offer with an implied value of $14.85 a share, it has been revealed.

ASX-listed Crown Resorts is Australia’s largest casino company.Credit:Bloomberg

“The proposal is subject to a number of conditions including due diligence, Wynn obtaining all the necessary regulatory approvals and a recommendation by the Crown board,” the company said in a statement on Tuesday.

“The Crown board has not yet considered the most recent proposal from Wynn.”


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