Blackstone wins Crown Resorts in A$8.9B deal after year-long pursuit

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  • Australian casino operator Crown Resorts said it accepted Blackstone's (NYSE:BX) takeover proposal that values the company at A$8.9B (US$6.3B).
  • Under the deal terms, Crown shareholders will receive A$13.10/share in cash, with a vote expected during Q2.
  • Crown has been the subject of various regulatory investigations; the gaming regulator in New South Wales state said Crown was not suitable to operate a new casino in Sydney upon finding that bank accounts at Crown subsidiaries were used to launder money.
  • Blackstone nevertheless raised its bid for Crown several times since initially offering A$11.85/share nearly a year ago.

    Over the current book year the total revenue from the company in New York City will be 13.65 billion USD (consensus estimates). This is quite lower than 2021's revenue of 22.58 billion USD.

    Historical revenues and results Blackstone Group Inc plus estimates 2021

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    The analysts expect for 2021 a net profit of 4.32 billion USD. The majority of the analysts expects for this year a profit per share of 5.76 USD. With this the price/earnings-ratio is 18.37.

    Huge dividend Blackstone Group Inc

    For this year the analysts expect a dividend of 4.86 USD per share. Thus the dividend yield equals 4.59 percent. The average dividend yield of the financial companies equals an attractive 2.24 percent.

    Blackstone Group Inc 's market capitalization is based on the number of outstanding shares around 72.35 billion USD. 24

    On Monday the stock closed at 105.8 USD.

    Historical stock prices Blackstone Group Inc

    historical stocks blackstonegroupinc

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