Crown Resorts has sold its 20 per cent stake in acclaimed Japanese restaurant and hotel chain Nobu – part-owned by Hollywood star Robert De Niro – in a $US180 million deal ($266 million) as the Blackstone-owned casino giant looks to reset its gaming and hospitality business.
The transaction values the entire Nobu business, which Crown acquired a stake in when it was controlled by billionaire James Packer, at $1.3 billion.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
