Feb 23 (Reuters) - Crown Resorts Ltd :
* Proposed Crown REIT IPO will not proceed at this time
* Intends to undertake an on-market share buy-back of approximately $500 million commencing following receipt of regulatory approvals
* Crown now intends to adopt a new dividend policy
* Crown now intends to undertake a buy-back of subordinated notes listed on asx under code "cwnha"
* Adopted a new dividend policy to pay 60 cents per share on a full year basis, subject to company's financial position Source text for Eikon: Further company coverage: