Company briefs: Crown Resorts; Traveloka; Deliveroo


Crown Resorts

Regulators have denied Crown Resorts, one of Australia's biggest gaming groups, a licence to run a new multi-billion-dollar casino in Sydney due to suspected links to organised crime.

The authorities acted on the recommendations of a public inquiry, which last week reported that Crown had been "facilitating" money laundering through so-called "high roller" gambling junkets linked to Chinese triads and other organised criminal groups.

The move came despite the resignations of Crown's chief executive and three long-time directors in response to the inquiry's report.



Indonesia's Traveloka, South-east Asia's biggest online travel start-up, plans to list in the US to raise funds using a special purpose acquisition company or Spac.

Traveloka, which counts Singapore's GIC among its investors, adds to a list of Indonesian start-ups seeking US listings via the Spac method, which allows them to use funds raised from their initial public offerings to buy a private company that then takes over the listing.

Gojek and e-commerce platform Tokopedia are said to be finalising merger terms before listing the combined entity in Jakarta and the US.



Food delivery start-up Deliveroo is due to lay out plans for an initial public offering (IPO) in London on March 8, Sky News reported.

The timetable remains subject to change.

After initially struggling at the start of lockdowns, Amazon-backed Deliveroo got a boost as the year went on while customers avoided supermarkets and ordered takeout meals and groceries.

Deliveroo's listing comes amid a surge in IPO activity in London, Europe's busiest venue this year. Deals include British bootmaker Dr Martens, which soared on its debut last month.


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A version of this article appeared in the print edition of The Straits Times on February 17, 2021, with the headline Company briefs: Crown Resorts; Traveloka; Deliveroo. Subscribe