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The Star pulls out of Crown merger plan, following regulatory concerns over Australian casino

( July 23, 2021, 04:08 GMT | Official Statement) -- MLex Summary: The Star Entertainment Group has unilaterally decided to withdraw its conditional proposal to merge with Crown Resorts, according to a statement by Crown to the Australian Securities Exchange. Crown described the decision as “unilateral” and said that it remained “willing to engage with The Star in relation to a potential merger on terms acceptable to both Crown and The Star.” The Star’s withdrawal from the deal follows ongoing regulatory troubles for Crown, amid allegations of money laundering by high-flying patrons of its Melbourne casino. Crown's statement to the Australian Securities Exchange is attached. ...

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