Crown shareholders vote in favour of $9 billion takeover

Shareholders of Australian gaming giant Crown Resorts have voted in favour of a nearly $9 billion takeover bid by American private equity firm Blackstone.

In a meeting held today an overwhelming 99.91 per cent of the votes cast by shareholders were in favour of the takeover bid, approximately valued at around $8.9 billion.

The deal - which is still subject to regulatory approvals in several states - would see Blackstone become the owner of a casino brand that includes Crown Sydney, Melbourne and Perth in its repertoire of gaming operations.

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It is not expected to be finalised until at least the end of June.

A major issue facing Crown Resorts is the fallout from several state-based investigations that have prevented the business from operating under normal conditions.

It's $2.2 billion casino in Sydney's Barangaroo is yet to be granted a gaming licence, and licences at other premises are under review.

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In a note to shareholders this afternoon Crown said it would work with Blackstone until the matters are resolved.

"Crown will continue to assist Blackstone as it works towards obtaining the required gaming regulatory approvals," the notice reads.

"Crown will announce to the ASX material developments in respect of Blackstone's gaming regulatory approvals and, in due course, the date for the final Court hearing to approve the Scheme."

Crown finished the day's trade up 0.16 per cent to $12.84 following the news.