Blackstone pumps almost $500 million into ailing casino operator hit by AUSTRAC fines and lack of high rollers

Last year, Blackstone quietly injected almost half a billion dollars in cash into Crown Resorts as the asset management giant tried to turn around its casino operations under pressure from a lack of high rollers.

Several people familiar with the transaction, who requested anonymity to speak freely, said Crown received the funds shortly after AUSTRAC fined it $450 million last July for breaches of anti-money laundering and counter-terrorism financing laws. .

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