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October 30, 2015

Australia: Crown Splashes Out On Stake In Nobu

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Crown Resorts has announced it will buy a 20 per cent stake in international restaurant and hotel group Nobu for US$100 million.
The remaining 80 per cent will continue to be owned by the existing owners, entities associated with Nobu Matsuhisa, Robert De Niro and Meir Teper.

“We see the Nobu brand as complementary to Crown Resorts’ global luxury entertainment positioning and the Nobu business has an attractive near-term growth profile, with a number of new restaurant and hotel openings planned,” said Rob Rankin, Crown’s chairman.

James Packer established Crown’s relationship with Nobu some years ago. Now we have Nobu restaurants in both Crown Melbourne and Crown Perth and a Nobu Hotel at City of Dreams – Manila. This acquisition cements that existing strong relationship.” 

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