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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.

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2026 conference chairs

Regulating the Game issues call for 2026 conference chairs

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Leading international gambling law and regulation conference Regulating the Game (RTG) has issued a call for expressions of interest for the final Conference Chair position of its 2026 edition, to be held from 9 to 11 March 2026 at the Sofitel Sydney Wentworth.

Organizers explained that conference chairs will steward a day of the event and play a pivotal role in shaping dialogue, setting the tone and guiding discussions across key themes including safer gambling, compliance, governance, technology, and regulatory and sector transformation.

While some chairs have already been locked in, the final chair will be appointed to bring fresh perspective and balance to the program, ensuring diverse voices and expertise are represented in the conversations that matter most to the sector, they added.

“The caliber of our Conference Chairs underscores the influence and reach of Regulating the Game,” said Paul Newson, Principal at Vanguard Overwatch and founder of RTG.

“This appointment presents an exciting opportunity for a persuasive communicator to help frame critical conversations and contribute to shaping the future of gambling regulation.”

Past chairs of RTG have included IAG’s very own Vice Chairman and CEO Andrew W Scott; Professor of Marketing at the University of Nevada–Las Vegas Dr Maria Royne Stafford; Regional Head of Licensing, Government & Regulatory Affairs – EMEA/APAC at Sportradar Donata Szabo; Executive Director, Alderney Gambling Control Commission Andrew Gellatly; and Chief Commercial Officer at Gaming Laboratories International Ian Hughes, among others.

Next year’s RTG will feature an expanded program of associated events, including the popular Pitch! at the Sydney Opera House  on the evening of 9 March, the first ever RTG Global Awards & Gala Dinner on the evening of 10 March plus 15-minute Industry Spotlight Sessions for established sector leaders, Expert Masterclasses and an expanded exhibition showcase.

Interested candidates for the final Conference Chair role are encouraged to contact the RTG team at [email protected].

The post Regulating the Game issues call for 2026 conference chairs appeared first on European Gaming Industry News.

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Aquisitions/Mergers

NextBet Launches as Acquisition Vehicle (AV) to Consolidate Mid-Market Operators; Announces Flagship Acquisition and Growth Strategy

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NextBet has announced its official launch, establishing itself as a bold new AV and challenger in the Australian wagering market. Formed to capitalise on the mounting pressure facing undercapitalised operators and an accelerating wave of industry consolidation, NextBet enters the market with the acquisition of well-established operator, CrossBet. This strategic move marks the first step in a bold plan to build Australia’s next dominant Tier Two wagering group under a united brand.

NextBet will be led by, Scott Cross, who will serve as Executive Director. The move is a strategic restructure designed to position the business for its next phase of inorganic expansion.

“The formation of NextBet creates the foundation to scale rapidly through an ambitious M&A strategy, while investing in proprietary capabilities to meet the demands of a changing wagering market,” said Cross.

Strategic Vision: The Path to Tier Two Dominance

NextBet is pursuing an aggressive growth strategy – rolling up undercapitalised lower-tier operators while driving operational efficiency through product, speed of profiling and a differentiated user experience that attracts and retains high-value customers.

To support this next phase of expansion, NextBet is actively seeking strategic investors who share its vision for reshaping the mid-market wagering landscape. Investment will be used to accelerate acquisitions, enhance platform capabilities and solidify NextBet’s position as the go-to consolidator in the Australian market.

The current $419M valuation for PointsBet Holdings Limited confirms that the market rewards scaled, tech-enabled operators with focused execution. NextBet’s model builds on this blueprint, designed to fill the emerging leadership void in the Tier Two segment with an advanced offering custom built for modern wagering dynamics.

NextBet is currently in advanced discussions with several additional acquisition targets and expects to announce further transactions in the coming quarters.

The post NextBet Launches as Acquisition Vehicle (AV) to Consolidate Mid-Market Operators; Announces Flagship Acquisition and Growth Strategy appeared first on European Gaming Industry News.

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Australia

NICC extends The Star manager’s term for six months

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The NSW Government has amended the Casino Control Regulation to extend the term of The Star’s manager Nick Weeks, who will continue to have oversight of casino operations until at least 31 March 2026.

The government extended Mr Weeks’ term at the request of the NSW Independent Casino Commission (NICC) after the NICC declined to lift the suspension of The Star’s licence.

Mr Weeks will continue to hold the licence for The Star over the next six-month period, allowing the casino to operate gaming facilities while its licence remains suspended.

The NICC first appointed Mr Weeks to the role of manager in October 2022, when The Star’s casino licence was suspended following the first Bell Review.

NICC Chief Commissioner Philip Crawford said there was still too much uncertainty surrounding The Star to consider reinstating its casino licence at this time.

“The NICC considers it appropriate to continue with the current arrangement so it can better assess the effectiveness of important remediation work and await the outcomes of other pressing financial matters concerning The Star,” Mr Crawford said.

“The NICC understands the many challenges The Star is facing and is closely monitoring The Star’s progress as it works to prove it is capable of regaining its casino licence.”

The post NICC extends The Star manager’s term for six months appeared first on European Gaming Industry News.

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