Crown Resorts

Crown Resorts

Crown Resorts Limited is one of Australia's largest gaming and entertainment groups which had, at June 2010, a market capitalisation of just over A$6 billion. The company was established in 2007 when Publishing and Broadcasting Limited divested its gaming assets to Crown Limited. PBL was renamed to Consolidated Media Holdings, retaining all of the remaining assets. In 2008, Crown attempted to enter the Las Vegas gambling market by acquiring a 19.6 per cent stake in Fontainebleau Resorts for US$ 250 million, which resulted in a total loss the following year when other investors withdrew US$ 800 million financing, resulting in bankruptcy applications. This was one of a succession of ... more on Wikipedia

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