Blackstone finally gets access to accounts of troubled casino operator Crown

Blackstone Inc. was finally given access to the accounts of troubled Australian casino operator Crown Resorts Ltd. after a month in which it increased its take over offer to A $8.5 billion $6 billion None China Cash Flowed Through Congo Bank to Former President's Cronies.

Crown will let the U.S. buyout firm view private information as part of non-exclusive due diligence, Crown said Thursday. Blackstone will be able to work on a fresh offer that reflects the value of Crown, the company said.

Blackstone offered A $12.50 for each Crown share in late November, a 26% premium over the previous close. That has proved enough for Crown to open its door to the U.S. suitor, albeit tentatively, after rejecting two previous proposals as too low.

The biggest shareholder of Crown, James Packer, has been hammered by regulatory investigations for more than a year. That hasn't deterred suitors, which include rival Australian casino operator Star Entertainment Group Ltd., because Crown still has casino monopolies in two Australian cities and a new resort on Sydney's waterfront.

Read more: Tarnished Crown Wins Stay of Execution With Time to Fix Casino

In October of this year, Crown was given two years to address a litany of wrongdoing to save its flagship Melbourne casino after an inquiry found it had underpaid taxes, facilitated money laundering and exploited problem gamblers. In February, Crown was found to be unsuitable to run its new casino in Sydney, and it faces a similar inquiry into its Perth operations.

None Charlie Penner, the Investor Reshaping Exxon From the Inside