Melco Ditches Crown, Blames Coronavirus

Melco Resorts & Entertainment has bailed on its plan to buy a major share of Crown Resorts. Melco blamed its decision on the impact of the coronavirus, but the move came as Crown faces a major investigation in Australia linked in part to the family of Melco boss Lawrence Ho. This could be the end of a longstanding business relationship between Ho and Crown chief James Packer (l.).