The Star unveils Crown merger strategies to develop $12b gambling huge

The Star unveils Crown merger strategies to develop $12b gambling huge

Casino operator The Star Amusement Group has unveiled a bid to merge with James Packer’s Crown Resorts to build a massive $12 billion gambling large.

In a assertion to the ASX currently, which outlined the merger proposal, The Star stated in a 21-webpage document it believed the ACCC would not oppose the offer.

The Star is doing work with Credit Suisse to set up financing for the probable deal, it stated in the assertion.

James Packer leaves the Crown Resorts AGM at the Crown Casino in Melbourne, in 2017.
James Packer stays the greater part shareholder in Crown via his personal firm. (AAP)

A merger would “build a countrywide tourism and global leader” with a “planet-class portfolio” of resorts in four states, the statement claimed.

Star chairman John O’Neill reported the proposed $12 billion gambling company would keep on being shown on the ASX.

“The merged team would be a powerful expenditure proposition and a person of the biggest and most appealing built-in resort operators in the Asia Pacific area,” Mr O’Neill stated.