Blackstone acquired Crown Resorts Limited, a transaction completed in June 2022, structured as an undisclosed amount (real estate and private equity funds managed by Blackstone).
Crown Resorts Limited operates in Hospitality & gaming — integrated resorts / casinos, is based in Australia (Crown Melbourne, Crown Perth and Crown Sydney).
Crown, one of Australia's largest entertainment groups with integrated resorts in Melbourne, Perth and Sydney, offered Blackstone the chance to apply its global hospitality expertise and capital to transform the properties and complete Crown's compliance and governance turnaround; it was the firm's largest Asia Pacific investment at the time.
We are thrilled to become the new owner of Crown, bringing our expertise in hospitality to help the company achieve its full potential as a leading travel and leisure company. We first invested in Crown two years ago, seeing the tremendous underlying potential of the company and its people.Alan Miyasaki, Head of Real Estate Acquisitions Asia, Blackstone
Advisory firms were not disclosed for this transaction.