SYDNEY Dec 16 Australian casino group Crown
Resorts on Friday said it would increase the size of a
share buyback and distribution to investors by A$300 million
($220 million) after selling an additional stake in
Macau-focused Melco Crown Entertainment.
Crown said it had reduced its stake in Melco Crown to 11.2
percent, with 5.5 percent held through a cash-settled equity
swap. Combined with the planned sale of 13.4 percent of Melco
Crown announced on Thursday, Crown said it would receive
proceeds of A$1.9 billion from the share sales.
($1 = 1.3594 Australian dollars)
(Reporting by Jamie Freed; Editing by Alison Williams)