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Star Entertainment Submits Proposal to Merge with Crown Resorts

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Australia’s Star Entertainment Group has submitted a conditional, non-binding, indicative proposal to merge with Crown Resorts.
According to details released via the ASX, the proposal values Crown’s shares in excess of AU$14 per share – exceeding the value put forward by competing bids in recent weeks which value Crown at closer to AU$12 per share.
Those competing bids include a revised offer from American multinational private equity and hedge fund giant The Blackstone Group, received over the weekend, which increases its bid from an original AU$11.85 per share to AU$12.35 per share.
US global asset management firm Oaktree Capital Management L.P. has also proposed a AU$3 billion offer to acquire the 37% stake in Crown currently held by James Packer’s Consolidated Press Holdings.
However, Star has outlined its case for a merger, with the offer representing a share exchange ratio of 2.68 The Star shares per Crown share with a cash alternative of AU$12.50 per Crown share for up to 25% of Crown’s issued share capital.
“Based on recent trading values of The Star and the substantial value that would be unlocked by a merger, The Star estimates its pro forma share price to be more than AU$5 per share, implying potential value of the Scrip Consideration in excess of AU$14 per Crown share,” it said.
The Star said it believes a merger represents a “compelling value proposition for all shareholders by creating a national tourism and entertainment leader with a world-class portfolio of integrated resorts with enhanced scale and geographic earnings diversification, significant balance sheet strength and free cash flow generation.”
It would also allow for AU$150 million to AU$200 million in cost synergies per annum with an estimated net value of AU$2 billion.
“A merger of The Star and Crown would result in significant scale and diversification and unlock an estimated AU$2 billion in net value from synergies,” Star Chairman John O’Neill said.
“With a portfolio of world-class properties across four states in Australia’s most attractive and populated catchment areas and tourism hubs, the combined group would be a compelling investment proposition and one of the largest and most attractive integrated resort operators in the Asia Pacific region.”
According to Star, a merger would also open the door for potential sale and leaseback opportunities on some of the group’s enhanced property portfolio – leaving the door open for the likes of Blackstone and Oaktree to acquire assets in the future.
Crown said it has not yet formed a view on the merits of the proposal and will commence an assessment process on its merits.
Latest News
Spin2Win de GoldenRace regresa más fuerte
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GoldenRace, proveedor líder de premiados deportes virtuales y soluciones apuestas, ha presentado la última versión de su emblemático juego de números, Spin2Win & Spin2Win Royale. Reconocido por su sencillez, dinamismo y altas recompensas, este título se ha convertido en una pieza clave del portfolio de la compañía y en una herramienta de participación comprobada para operadores de todo el mundo.
Los juegos de números siguen siendo una de las verticales más sólidas dentro del mercado internacional de apuestas. Cifras de H2 Gambling Capital confirman que los productos de casino representaron en Europa 21.500 y 8.500 millones en ingresos brutos de juego (GGR) para los mercados online y retail respectivamente, en 2024. Sus reglas claras, ciclos cortos y premios frecuentes los convierten en los favoritos de los jugadores y en una fuente estable de ingresos para los operadores.
En GoldenRace, nos esforzamos constantemente por mejorar nuestros productos, haciéndolos más atractivos y accesibles con cada lanzamiento. Y esta filosofía se aplica a toda nuestra cartera. Big5, una innovadora versión del fútbol virtual, y RaceDay, que reúne todos los tipos de carreras en un solo producto, son solo dos ejemplos recientes. Esta versión de Spin2Win continúa por el mismo camino.
Entre sus mejoras destacan una interfaz de usuario totalmente optimizada y una ruleta renovada e impactante que eleva la emoción de cada giro. El juego también incorpora estadísticas más claras, la opción de juego automático en el modo instantáneo y la función multiplicador en el modo programado, herramientas diseñadas para agilizar la toma de decisiones, aumentar la
participación y alargar las sesiones de juego.
Spin2Win mantiene además su variedad con cuatro formatos distintos: Clásico, Royale, Americano y Americano Royale. Las versiones Royale incluyen una ruleta de sectores que amplía las opciones de apuesta, mientras que las versiones Americanas destacan el doble cero verde con cuotas totalmente transparentes. Los operadores se benefician de una configuración flexible, múltiples formatos de cuotas y validaciones automáticas que garantizan un juego justo y estable.
Con este relanzamiento, GoldenRace reafirma su liderazgo en el vertical de los juegos de números e invita a operadores y jugadores a descubrir una nueva era de giros.
The post Spin2Win de GoldenRace regresa más fuerte appeared first on European Gaming Industry News.
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GoldenRace’s Spin2Win returns stronger
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GoldenRace, the leading provider of award-winning Virtual Sports and betting solutions, has unveiled the latest version of its emblematic number game, Spin2Win&Spin2Win Royale. Recognised for its simplicity, fast gameplay and high rewards, the title has become a cornerstone of the company’s portfolio and a proven engagement tool for operators worldwide.
Number games continue to be one of the most reliable verticals in the global betting market. Figures from H2 Gambling Capital confirm that casino-style products represented 21.5 and 8.5 billion in GGR for online and land-based markets, respectively, in 2024. Their clear rules, short cycles and frequent payouts make them a favourite among players and a steady source of revenue for operators.
At GoldenRace, we constantly push to improve our products, making them more engaging and accessible with every release. And this philosophy runs across our entire portfolio. Big5, a groundbreaking take on Virtual Football and RaceDay, which unites all race types in a single product, are just two recent examples. This version of Spin2Win continues this path.
Among the improvements are a fully optimised user interface and a renewed, visually striking wheel that boosts the excitement of every spin and clearer statistics. The game also incorporates an Autoplay option in instant mode and a Multiplier feature in scheduled mode – tools designed to enhance decision-making, increase engagement and extend player sessions online.
Spin2Win also maintains its variety with four distinct versions: Classic, Royale, American and American Royale. Royale formats introduce an additional sectors wheel that expands betting options, while the American variants highlight the double green with fully transparent odds. Operators benefit from flexible configuration, multiple odds formats and automated validations that ensure seamless and fair gameplay.
With this relaunch, GoldenRace confirms its leadership in the number games vertical and invites operators and players to discover a new era of spinning.
The post GoldenRace’s Spin2Win returns stronger appeared first on European Gaming Industry News.
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Expanse Studios Secures Romanian Class 2 B2B Gaming License
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Expanse Studios, a B2B iGaming content provider and subsidiary of Golden Matrix Group Inc. (NASDAQ: GMGI), has been granted a Class 2 license by Romania’s National Gambling Office (ONJN), authorizing the company to distribute specialized gaming software across one of Europe’s fastest-growing regulated markets.
The license, granted under Decision No. 273, enables Expanse Studios to provide its portfolio of proprietary slot games, crash games, and casino content to licensed Romanian operators. This approval positions the company to serve a market that generated approximately €600 million in gross gaming revenue in 2024 and maintains one of Europe’s highest channelization rates at over 90%.
Strategic Entry into High-Growth Regulated Market
Romania represents one of Eastern Europe’s most dynamic iGaming jurisdictions, with internet penetration reaching 88% of its 19 million population and a regulatory framework that has attracted over 50 licensed operators. The market has demonstrated consistent growth, with total industry turnover exceeding €2 billion in 2023, reflecting a 15% year-over-year increase.
The Class 2 B2B license allows Expanse Studios to distribute content to Romania’s licensed B2C operators without establishing a Romanian entity or paying Romanian corporate taxes, while providing access to a market where mobile gaming dominates and player engagement continues to accelerate.
Romania’s stringent licensing requirements under Government Emergency Ordinance 77/2009 make ONJN approval a significant credential for B2B providers. The regulatory framework emphasizes technical compliance, player protection, and operational transparency—requirements that align with Expanse Studios’ existing European operations across 1,300+ casino brands.
“Securing ONJN approval validates our technical capabilities and regulatory compliance standards in one of Europe’s most demanding jurisdictions,” said Damjan Stamenkovic, CEO of Expanse Studios. “Romania offers substantial distribution opportunities through licensed operators serving a tech-savvy player base with strong engagement metrics. This license strengthens our European B2B footprint and demonstrates our ability to meet the compliance requirements of mature regulated markets.”
Expanding B2B Distribution Infrastructure
The Romanian license complements Expanse Studios’ recent European partnerships, reflecting accelerating demand for the company’s content across regulated jurisdictions. With 56 proprietary titles including Super Heli, Titan Roulette, and Wild Icy Fruits, Expanse continues scaling its high-margin B2B operations across Europe, Latin America, and North America.
Romania’s market characteristics—including preference for mobile platforms, strong affinity for slot content, and established payment infrastructure—align well with Expanse Studios’ content portfolio and distribution model. The company’s games will be available to Romanian operators seeking certified, compliant content for their licensed platforms.
This license approval reinforces Golden Matrix Group’s broader strategy of expanding regulated B2B operations in jurisdictions with transparent licensing frameworks and sustainable growth trajectories.
The post Expanse Studios Secures Romanian Class 2 B2B Gaming License appeared first on European Gaming Industry News.
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