with beleaguered rival Crown Resorts as the James Packer-controlled firm faces an uncertain future following its Victorian royal commission grilling.
Star said it was concerned that issues raised at the inquiry into Crown Melbourne could materially impact the business.The Star said on Friday morning it had limited engagement with Crown since the proposal was lobbed in May, and was concerned thatregarding Crown Melbourne could materially impact the business, including whether it retains the licence to operate its Melbourne casino or the conditions under which its licence is retained.
“We continue to believe substantial benefits could be unlocked by a merger, however the uncertainty surrounding Crown is such that The Star is unable to continue at the present time with its Proposal in the form as announced,” the company said in a release to the ASX.The Star said it will continue to closely monitor the Victorian royal commission and Perth casino royal commission, with final findings expected later this year.
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The Star withdraws $12b Crown merger bidBreaking: The Star has withdrawn a $12 billion merger proposal with rival Crown Resorts as the James Packer-controlled firm faces an uncertain future following its Victorian royal commission grilling. | AlexDruuuce miriamcosic AlexDruuuce Maybe, just maybe, they both should be allowed to slip into the void and disappear without trace.
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