FIRST AIRED: April 9, 2019

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00:00:00
Las Vegas casino empire win is making a play for one of its big rivals in Asia Australia's crown resorts winds putting seven billion dollars on the table for the deal according to a crown statement on Tuesday the new send crowns ship price soaring by the twenty percent a sale would give win the world's second largest casino company a foothold in a gambling market popular with Chinese tourists but it also comes as a slowdown in China threatens profits for both win and crown what is Byron Katie explains from Sydney at the moment just the downturn in Chinese consumer spending is affecting gambling country gambling companies all of eyes are including the cow and including Australia and wind already has business in Macau and I've been to grow in Japan as well and all of these markets including Australia have this %HESITATION dependence on wealthy Chinese gamble's old V. I. pays %HESITATION old whiles if you will %HESITATION those guys not really rising into a strategist at the moment so when could get crowns existing assets mistrial , it's gonna still have that exposure to the downturn in V. I. pays if the deal goes through it would also mocked the ends to Australian gambling tycoon James pack is forty seven percent ownership of crown packet quit the company's board last year having founded crowned by splitting the media and casino assets that underpinned his father's business empire attack a personally %HESITATION it's much more symbolic because crown results is his idea he created the company out of his father's media empire about twelve years ago and this represents the end of that drains at a huge cash benefit to him crown said the talks with wind board a preliminary stage with no agreement on value will structure yet a win spokesman declined to comment