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Australia's Crown Resorts signs several divestment deals to reduce debt

Kitco News

Dec 14 (Reuters) - Australian casino operator Crown Resorts said on Thursday it has signed several divestment deals as part of its ongoing debt reduction strategy, including the sale of its interest in a Las Vegas site for $300 million to a unit of Wynn Resorts Ltd .

The company said in a statement it expects gross proceeds of $264 million from the sale of the Las Vegas site.

Crown has been retreating from a decade-long foray into the global gaming hub since 18 staff were arrested for gambling crimes in China last October amid a broader crackdown on corruption. (Reporting by Christina Martin in Bengaluru; Editing by Muralikumar Anantharaman)

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