Australian hotel and casino operator Crown Resorts today announced that it had locked several asset divestment deals and that it will be using proceeds from these to reduce its debt.
Over the past year, the company has gradually disposed of its international assets in a bid to focus its attention on its domestic operations.
Crown Resorts announced earlier today that it had sold its interest in a Las Vegas Boulevard portion of land for the total amount of A$300 million. The company had previously intended to expand its footprint to the popular casino hub by building the Alon Las Vegas integrated resort. However, the project no longer matches the operators growth strategy, hence the sale of the plot.
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Read the full article at: http://www.casinonewsdaily.com/2017/12/14/casino-operator-crown-resorts-divests-assets-reduce-net-debt/