Shareholders of Crown Resorts Limited have approved by overwhelming majority a planned takeover of the company by US private equity firm The Blackstone Group.

According to details released following a Scheme Meeting on Friday, 92.05% of shareholders who were either present at the meeting or voting by proxy voted in favor of Blackstone’s acquisition, representing 99.91% of votes cast.

This is the second of four key steps before the acquisition is cleared, with Crown having already been given the green light by the Australian government’s Foreign Investment Review Board (FIRB).

The next step will be gaining regulatory approvals before seeking the approval of the court.