Blackstone quietly injected almost half a billion dollars in cash into Crown Resorts last year as the asset management giant attempted to turn around a casino business under pressure from a lack of high rollers.
Several people with knowledge of the transaction, who requested anonymity to speak freely, said Crown received the funds soon after being hit with a $450 million penalty by AUSTRAC for breaches of anti-money laundering and counter-terrorism financing laws last July.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
