Wynn Cuts Off Crown Purchase Talks

This story was published more than 1 year ago.

Well, that didn't take long. A day after we reported that Wynn Resorts was entering talks to purchase Crown Resorts, the groups have cancelled discussions.

The two were reportedly in talks that would have seen Wynn purchasing Crown for A$10 billion, with a 50% cash, 50% stock share purchase. Those talks have now been cancelled, with no reason given other than the numbers released were disclosed prematurely.

After seeing their stock surge 20% on the day that the talks were announced, Crown stock plunged 9.11% per share on the cancellation of talks. Wynn stock was down 3.8%.

It's possible that talks could re-start at some point, but for now it looks like Crown will remain their own entity.

About the author

Kingston Li // Asia Correspondent
Kingston Li
Kingston is a big fan of Baccarat and Texas Hold'em Poker and has tested his skills in tournaments around Asia and the world. He covers the latest gambling news from Asia for Casino Listings. In his spare time, Kingston enjoys hiking, video gaming, and playing disc golf.
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bgsharpe
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10 April 2019 - 5:45pm
#1

Lol...I've just commented at the previous one there' might be still a chance the accusation to become reality in the end...that guess was just like my betting stakes these days..too far from reality 🙂

usbarbadosslim93
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12 April 2019 - 5:13pm
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Lol, good one sharpe. Yeah those discussions collapsed rapidly. Crazy stuff.

sharpe