Crown Resorts rejects Blackstone takeover bid

Australia's Crown Resorts is currently subject to multiple inquiries into allegations of money laundering and ties to organised crime

Australia's Crown Resorts is currently subject to multiple inquiries into allegations of money laundering and ties to organised crime

Troubled Australian casino operator Crown Resorts rejected a takeover bid from US private equity giant Blackstone on Monday, saying the offer "undervalues" the gaming group.

Crown said it was still studying a separate merger proposal by rival Australian casino operator Star Entertainment Group.