July 23 (Reuters) - Star Entertainment Group Ltd (SGR) :
- WITHDRAWS NON-BINDING PROPOSAL TO MERGE WITH CROWN
- INFORMED CROWN RESORTS IT HAS WITHDRAWN ITS CONDITIONAL, NON-BINDING, INDICATIVE PROPOSAL
- REMAINS OPEN TO EXPLORING POTENTIAL VALUE ENHANCING OPPORTUNITIES WITH CROWN
- WILL CONTINUE TO CLOSELY MONITOR VICTORIAN ROYAL COMMISSION AND PERTH CASINO ROYAL COMMISSION
- TO DATE, STAR HAS HAD LIMITED ENGAGEMENT WITH CROWN ON ITS PROPOSAL
- UNABLE TO CONTINUE AT PRESENT TIME WITH ITS PROPOSAL IN FORM AS ANNOUNCED ON 10 MAY
- ISSUES RAISED AT VICTORIA'S ROYAL COMMISSION INTO CROWN MELBOURNE HAVE POTENTIAL TO MATERIALLY IMPACT VALUE OF CROWN