Day: 15 June 2021

Oaktree Capital Boosts Its Takeover Offer for Crown Resorts

Tue 15 Jun 2021 9.38 Olivia Cole
Oaktree Capital Boosts Its Takeover Offer for Crown Resorts

Today, the US global asset management company Oaktree Capital Management modified the fundings of its takeover proposal to Crown Resorts. The proposal could be used to buy back shares of the Australian casino giant that are currently owned by billionaire James Packer. Earlier this morning, Oaktree Capital announced that the newly proposed package consists of an AU$2-bilion loan and AU$1.1-billion convertible debt that could provide the US company with a stake of up to 9.99% in Crown Resorts. The updated offer is estimated roughly to AU$12.40 per share, which is…

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UK Government to Increase Land-Based and Online Gambling Operators’ Licence and Application Fees

Tue 15 Jun 2021 5.47 Daniel Williams
UK Government to Increase Land-Based and Online Gambling Operators’ Licence and Application Fees

The beginning of the week saw the UK Government publish its response to a consultation on a proposal seeking to increase the fees that gambling operators in the country are expected to pay to the UK Gambling Commission (UKGC) for the right to offer their services. The last time when the fees applicable to gambling companies were revised was in 2017. The newly increased fees are expected to help the UK gambling regulatory body respond to new technological developments, risks and challenges, as well as the constantly increasing costs of…

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