Crown Resorts Limited’s divesting its 62% interest in CrownBet


Ashurst has advised Crown Resorts Limited (Crown) on the sale of its 62% interest in CrownBet, together with loans advanced by Crown to CrownBet, for A$150 million.

The firm has acted as the adviser to Crown on a number of recent transactions. This includes the A$62.5 million sale of its interest in part of the property and operations of the Ellerston golf course in the Hunter Valley in December 2017, and the A$1.34 billion sale of Crown’s remaining shareholding in Melco Resorts & Entertainment Limited in May 2017.

The Ashurst team was led by partner Phil Breden (Corporate, in picture), assisted by senior associates Matt Sparks and Andrew Kim, and lawyer Lee-Anne Yeo (Corporate); partner Jamie Ng, counsel Tim Macmillan and foreign qualified senior associate Caroline Smart (Finance); partner Tim Brookes and senior associate Rebecca Cope (TMT); with partner Peter Chalk and counsel Joanna Lawrence (IP).

Involved fees earner: Phil Breden – Ashurst; Matt Sparks – Ashurst; Andrew Kim – Ashurst; Jamie Ng – Ashurst; Tim MacMillan – Ashurst; Caroline Smart – Ashurst; Tim Brookes – Ashurst; Rebecca Cope – Ashurst; Peter Chalk – Ashurst; Joanna Lawrence – Ashurst;

Law Firms: Ashurst;

Clients: Crown Resorts Ltd.;

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Author: Michael Patrini