Melco Resorts’ plans paused while gambling authority conducts hearings in response to allegations of Crown’s links to money-laundering operations
Hong Kong billionaire Lawrence Ho has put the purchase of shares in Crown Resorts from James Packer on ice as a key gambling authority prepares to conduct public hearings into the casino group.
In May, Ho’s Melco Resorts group agreed to pay Packer’s private company, Consolidated Press Holdings (CPH), $1.75bn for almost 20% of Crown.
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