Crown Star merger dream faces ACCC HurdleAny merger between Crown and Star is alsolikely to attract the attention of the competition regulator, which has closelywatched proposed mergers in 2021, focusing on market concentration in tablegames and other areas of the gambling market.
Star itself has had a tough 12 months , withits shares down nearly 78% and close to a record low of 55 cents. The companyhas written down the value of its casinos in Sydney, Gold Coast and Brisbane by$2.2 billion and faces significant penalties after being sued by AUSTRAC foranti-money laundering failures. It also nearly lost its license in New SouthWales and was forced to take out two major equity raises to cope with a heavydebt load.
The combined giant Casio Group would own sevenresorts, including flagship casinos in Sydney, Melbourne, Perth, Brisbane andthe Gold Coast.
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