Blackstone Closes In Crown Bid After Australia Approvals: Reuters

• Blackstone Inc (NYSE:BX), the investment management company, is likely to take the reigns of Australia’s Crown resorts after the country’s regulators approve the bid, Reuters reported.
• Crown resorts have been mired in allegations of money laundering, making its investors nervous and eager for an overhaul or ownership transition.
• The COVID-19 pandemic and the ensuing lockdowns made matters worse for the resort group’s profit, which took a big hit.
• The new approvals from regulators covering Sydney in New South Wales and Melbourne in Victoria take Blackstone a step nearer to closing the deal, the report added. 
• Price Action: BX shares closed lower by 2.86% at $116.40 on Wednesday.