WA regulators back Blackstone's Crown bid
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Blackstone's $8.9 billion takeover of Crown Resorts is poised to go ahead after Western Australia's gaming regulators signed off on the sale.
The US private equity giant's proposed purchase of the Online Casino operator had already been approved by authorities in NSW and Victoria.
Approval must still be granted by the Federal Court. A final court hearing is scheduled for Online Casino Wednesday, Crown told the ASX.
Crown, along with rival Star, has been subjected to numerous inquiries that found widespread failings including money laundering at its Perth and Melbourne casinos.
Blackstone is one of the world's biggest private equity firms, boasting a diverse portfolio ranging from food and telecommunications assets to casinos.
The WA approvals were granted by Racing and Gaming Minister Tony Buti and the state's Gaming and Wagering Commission.
Mr Buti on Friday said Blackstone would be required to meet stringent conditions, including enhanced reporting of anti-money laundering and responsible gambling activities.
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