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FILE PHOTO: Exterior view of the Wynn Hotel-Casino in Las Vegas, Nevada, United States, February 7, 2018. REUTERS / Steve Marcus
SYDNEY (Reuters) – Shares of Australian casino operator Crown Resorts Ltd fell on Wednesday after US casino giant Wynn Resorts Ltd abruptly ended negotiations for a takeover.
Wynn, the second-largest casino operator in the world, has offered a $ 10 billion (£ 5.5 billion) Crown buyback, Crown said on Tuesday, but dropped the deal after news was released. .
Crown shares fell 10% to 12.50 Australian dollars at the opening of trade, while the expanded market opened down 0.1%.
Report by Tom Westbrook and Paulina Duran; Edited by Michael Perry
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