Partner Jamie Nettleton discusses the offer made to Crown by Blackstone in the ‘Crown takeover a slow burn’ article published in the AFR on 24 March 2021.
An extract of the article is below:
“The regulators will really want to make sure they’ve covered everything because they won’t want to leave an obvious stone unturned,” said leading gaming industry lawyer Jamie Nettleton.Jamie Nettleton, Partner, Addisons
Blackstone’s ownership of The Cosmopolitan casino in Las Vegas means the group has already passed through Nevada’s probity processes, which are seen as more stringent than those in Australia
Mr Nettleton, a partner at Addisons, said the green tick from Nevada was a positive, though it would not be enough to satisfy regulators here.
“I’d like to think that it’s not just a matter of believing everything that’s happened in Nevada. The Nevada investigation of Blackstone will carry great weight but regulators here will want to make sure they have conducted their own investigation and that no stones are unturned.“Jamie Nettleton, Partner, Addisons
“And the Nevada investigation may not have covered everything that is relevant to an Australian regulator,” he said.Jamie Nettleton, Partner, Addisons