Blackstone reportedly in talks with Packer regarding Crown Resorts

James Packer is said to be in talks with US property giant Blackstone Real Estate over a deal involving Crown Resorts’ Australian casinos in Perth, Melbourne and in the future Sydney, according to the Australian Financial Review’s “Street Talk”.

In Dec. 2015, speculation circulated that Packer was  in talks with a number of private equity firms and pension funds to see if he can raise part of the estimated $5 billion to take his company private.

According to the Australian news outlet, sources say there is a chance talks with Blackstone could turn into more serious negotiations.  

 “It’s understood Packer would like to make an update on the progress of the talks this quarter.”