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Big Wynn? Vegas giant makes $7.1 billion play for Australia's Crown
World No. 2 casino operator Wynn Resorts made a A$10 billion ($7.1 billion) takeover approach for Australia’s Crown Resorts, the target company said on Tuesday, hoping to expand its geographic reach as it faces growth hurdles in Asia. The deal would offer Wynn a hedge against Macau, the Chinese gambling hub where its licenses are up for renewal, by giving it two lavishly revamped Australian casinos and a third still being built on the prized Sydney harbor front. For Crown 47-percent owner James Packer, who re-badged his father’s media empire as a gambling concern in 2007 only to withdraw from business engagements ... (full story)