Australian casino operator Star Entertainment Group on Friday withdrew a A$9 billion ($6.6 billion) buyout proposal for rival Crown Resorts Ltd after an inquiry heard the target should lose its main licence, sending its shares lower.
Travel & Leisure
Australia's Star Entertainment pulls $6.6bn bid for Crown Resorts
Casino operator says it may consider a tie-up with the troubled company
The decision removes a lifeline for Crown which has been trying to convince regulators it can rebuild its culture after an earlier inquiry in February found it allowed money laundering on its premises for years. © Reuters
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