Crown Resorts Ltd (CWN.AX)
SYDNEY/HONG KONG Australia's Crown Resorts Ltd quit its remaining stake in Macau-focused Melco Resorts and Entertainment Ltd for $1.16 billion, ending a fraught offshore expansion and freeing up cash for new projects at home.
* Crown sells remaining 11.2 pct stake in Melco for $1.16 bln
SYDNEY, May 9 Australian billionaire James Packer's casino group Crown Resorts Ltd agreed late on Monday to sell its remaining stake in Macau-focused Melco Resorts and Entertainment Ltd for $1.16 billion, ending its exposure to the Asian gaming hub.
* Melco Resorts & Entertainment - launch of public offering of 27.8 million adss,82 million ordinary shares for 165.3 million ordinary shares, concurrent repurchase from Crown Resorts
* issued a total of 14 million options to acquire a like number of fully paid shares in crown.
* As at 31 march 2017, a cumulative total of 1.2 million notes have been bought back
* Entered into a cash-settled equity swap in respect of its shareholding in Melco Crown Entertainment Limited
* Update in relation to buy-back of Crown Resorts ordinary shares
* Intends to commence buying back any and all of outstanding subordinated notes listed on asx under code "CWNHA"
SYDNEY Australian casino giant Crown Resorts Ltd said on Thursday it is in a "holding pattern" until it learns the fate of 18 staff detained in China, as plunging turnover from Asian high-rollers drove down underlying half-year profit 9.1 percent.