Gaming

Wynn Resorts claims end discussion on acquisition of Crown Resorts

Thursday 11 de April 2019 / 14:09

⏱ 1 min read

(Macau).- Wynn Resorts has announced termination of preliminary transaction discussions with Crown Resorts linked to the acquisition of the latter.

Wynn Resorts claims end discussion on acquisition of Crown Resorts

‘Following the premature disclosure of preliminary discussions, Wynn Resorts has terminated all discussions with Crown Resorts concerning any transaction,’ the company state on Tuesday.

According to the Brokerage firm Sanford C. Bernstein, Wynn Resorts proposed a nearly US$7.1 billion (MOP57.2 billion) takeover offer to Crown Resorts.

Bernstein previously suggested that the acquisition may have ‘merit’ since there may be solid synergies between the companies with respect to Chinese customers.

The brokerage firm also said it saw the acquisition partly as a possible ‘defensive strategy’ for Wynn to fend off any potential acquirers.

Bernstein claimed that Wynn Macau and Las Vegas assets are ‘crown jewels’ in the gaming industry, with an acquisition of Wynn Resorts having been discussed by investors. The broker also said that there is no guarantee that any potential discussion around the deal will not resurface at this point.

Categoría:Gaming

Tags: casinos,

País: Macao

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