Day: 19 April 2021

Oaktree Proposes AU$3 billion to Buy Out Packer’s Crown Shares

Mon 19 Apr 2021 13.37 Olivia Cole
Oaktree Proposes AU$3 billion to Buy Out Packer’s Crown Shares

The global investment company Oaktree Capital Group offered Australia’ Crown Resorts Ltd its help in buying back Packer’s share for AU$3 billion. This move meant a competition between Oaktree and its rival Blackstone Group which has also made a proposal for Crown’s buyback. Oaktree’s offer to help Crown with buying the billionaire’s share came just one month after Blackstone made a full takeover proposal for AU$8 billion. Crown said it will consider both offers but did not specify what type of benefit would Oaktree receive if the casino accepts its…

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ClubsNSW Withdraws Its Legal Bid against State’s Gambling Regulatory Body

Mon 19 Apr 2021 5.58 Daniel Williams
ClubsNSW Withdraws Its Legal Bid against State’s Gambling Regulatory Body

The lobby group that represents local clubs is set to withdraw its legal bid aimed at forcing the gambling regulator of New South Wales (NSW) to provide it with information retrieved from a whistleblower who raised some concerns regarding possible money laundering violations carried out through so-called pokies. Earlier in 2021, the organisation called ClubsNSW issued a subpoena to the gambling watchdog, Liquor and Gaming NSW, as part of its efforts to get more details the regulatory body had received from the whistleblower Troy Stolz, a former anti-money laundering compliance…

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