The Star unveils Crown merger designs to produce $12b gambling large

Casino operator The Star Entertainment Team has unveiled a bid to merge with James Packer’s Crown Resorts to generate a significant $12 billion gambling huge.

In a statement to the ASX today, which outlined the merger proposal, The Star mentioned in a 21-web site doc it believed the ACCC would not oppose the deal.

The Star is performing with Credit history Suisse to build funding for the opportunity deal, it stated in the statement.

James Packer leaves the Crown Resorts AGM at the Crown Casino in Melbourne, in 2017.
James Packer remains the majority shareholder in Crown by means of his personal enterprise. (AAP)

A merger would “produce a national tourism and international chief” with a “planet-class portfolio” of resorts in four states, the statement reported.

Star chairman John O’Neill stated the proposed $12 billion gambling enterprise would continue to be shown on the ASX.

“The combined group would be a compelling expenditure proposition and a single of the biggest and most desirable built-in resort operators in the Asia Pacific area,” Mr O’Neill said.