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Ho sells Crown stake as virus smashes Macau

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Macau billionaire Lawrence Ho has given up any hope of building a foothold in Australia’s casino sector, selling his 10 per cent stake in Crown Resorts to investment giant Blackstone for $552 million.

The transaction, which was revealed by The Australian Financial Review’s Street Talk column on Wednesday and confirmed by Crown, was completed at $8.15 a share.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@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
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com

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    Original URL: https://www.afr.com/link/follow-20180101-p54o82