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Blackstone Closes Acquisition of Australia's Crown Resorts.

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Vincent

MANews-(C)2009-2022

Real estate funds and private equity funds managed by US-based alternative asset manager Blackstone (NYSE: BX) have completed the acquisition of Australia-based Crown Resorts Ltd. in the largest transaction to date for the firm in Asia Pacific, the company said.

The transaction comprises three premium resort and casino properties in Melbourne, Perth and Sydney.

Crown is one of Australia's largest entertainment groups.

Crown's core businesses include two of Australia's leading integrated resorts, Crown Melbourne and Crown Perth, as well as Sydney's latest premium hotel resort and dining precinct at Crown Sydney.

Its property portfolio includes three award-winning resorts in Melbourne, Perth and Sydney, as well as London's prestigious Crown Aspinalls, a high end, boutique casino in the West End.

For 25 years, Crown Melbourne has been Australia's leading luxury integrated resort and casino, offering guests a range of exceptional entertainment and event experiences; premium hospitality, dining, spa and retail; and gaming.

Crown Perth is Western Australia's only integrated resort and casino, and features a combined 1188 hotel-room capacity, expansive lagoon and private pools, and 33 bars and restaurants.

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