US Investment Giant Blackstone Bids for Troubled Australian Casino Group Crown

US Investment Giant Blackstone Bids for Troubled Australian Casino Group Crown
A general view of Crown Sydney is seen at Barangaroo on November 19, 2020 in Sydney, Australia. Lisa Maree Williams/Getty Images
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An $8 billion offer for gaming giant Crown Resorts from a US investment fund could be good news for shareholders of the troubled group, according to a market expert.

U.S. private equity group Blackstone has made an unsolicited, non-binding offer of $11.85 cash per share.