Cruise liner Pacific Explorer docks at Sydney Harbour, New South Wales, Australia, on April 18, 2022.(Photo: Xinhua)

Australia's Federal Court approved on Wednesday the $6.3 billion acquisition of the country's largest casino operator Crown Resorts by US private equity giant Blackstone Inc.

The approval follows nods from state regulators in Western Australia, New South Wales and Victoria last week, and gives billionaire James Packer an exit route from the Australian casino firm, beset by scandals and regulatory setbacks, in which he owns a 37-percent stake.

"Crown will also request that quotation of Crown shares on the Australian Securities Exchange be suspended from close of trading today," the company said in a statement.

Crown shareholders will receive A$13.10 ($9.14) cash per share on June 24, expected to be the date of implementation.

State regulators have said the company will be subject to tough conditions, including additional auditing and a commitment to invest in and maintain Crown's Perth casino.

The company said it would lodge an official copy of the court orders with the Australian Securities and Investments Commission, making the deal legally effective.

Reuters