Blackstone Group plans to acquire 188bet Online Sports Betting and Casino Resorts Hotel Group for US.2 billion

Industrial Investment Author of this article: Tonghuashun Finance 2021-03-22
188bet Online Sports Betting and Casino has suffered from strengthened legal supervision in recent years、Acquisition abortion、COVID-19 and other blows。

Bloomberg Monday news,Blackstone Group plans to sell at 11 per share.A cash acquisition of shares in gaming operator 188bet Online Sports Betting and Casino Resorts Hotels Group,The total valuation is approximately 80.AUD 200 million (approximately US.2 billion)。current,188bet Online Sports Betting and Casino is facing the impact of Australian regulators。

Monday,188bet Online Sports Betting and Casino representation,Company is evaluating Blackstone’s acquisition proposal,The share price closed up in Sydney that day and expanded to 21.4%,Report 11.AU,Higher than Blackstone’s acquisition offer。

For James Packer, the largest shareholder holding 36% of 188bet Online Sports Betting and Casino shares,Blackstone’s acquisition plan may be after he failed to find an acquirer at least twice,New opportunity to exit 188bet Online Sports Betting and Casino。

Before Blackstone proposed the acquisition,188bet Online Sports Betting and Casino’s share price has almost halved from its high of in early 2014。188bet Online Sports Betting and Casino has suffered a blow in recent years,Including the strengthening of legal supervision、Acquisition of miscarriage and COVID-19。

Last month,NSW investigation says,188bet Online Sports Betting and Casino for at least 5 years before 2019,Through bank accounts linked to its Perth and Melbourne casinos "Facilitate and assist "Money laundering。Therefore,Regulator decides 188bet Online Sports Betting and Casino is unfit to continue to hold its Sydney casino license。At the same time,188bet Online Sports Betting and Casino also faces a regulatory inquiry into its suitability to operate Melbourne and Perth casinos。

If 188bet Online Sports Betting and Casino’s corporate restructuring plan appeases regulators,Blackstone’s gains are obvious: monopolizing casinos in two major Australian cities,And owns a .2 billion resort on Sydney’s waterfront。But,The risk of Blackstone is,Acquired company faces regulatory restrictions。Even if Blackstone becomes 188bet Online Sports Betting and Casino’s “new owner”,The takeover may also be from a company that has been "temporarily banned" from operating its three Australian casinos。

“This is a significant risk to consider”,And “corporate restructuring may take several years”,Senior Lecturer in Accounting at Monash Business School, Melbourne、Xiao Xinning, who specializes in corporate governance。

Last year,Blackstone at 8 per share.Acquired its current 188bet Online Sports Betting and Casino shares from Melco for A。

*thisWen LaiSource: Tonghuashun Finance, original title:Blackstone plans to acquire gaming operator 188bet Online Sports Betting and Casino for US.2 billion, with the latter’s stock price rising 21%

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