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Australia's Crown Resorts signs several deals to cut debt

Published Fri, Dec 29, 2017 · 09:50 PM
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Bengaluru

AUSTRALIAN casino operator Crown Resorts said on Thursday that it had signed several deals to divest assets to cut debt, including selling interest in a site on the Las Vegas Boulevard for US$300 million. Crown Resorts has been retreating from a decade-long foray into Macau, the other big global gaming hub, amid a broader Chinese crackdown on corruption.

In May, it quit its remaining stake in Macau-focused Melco Resorts and Entertainment, freeing up cash to pay off debts.

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