SYDNEY (Reuters) – Australian casino giant Crown Resorts said on Tuesday it had received an indicative A$10 billion ($7.1 billion) takeover offer from Las Vegas’s Wynn Resorts, sending Crown’s shares soaring as investors bet on an even higher bid.

FILE PHOTO – The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia, June 13, 2017. REUTERS/Jason Reed/File Picture

A sale would mark an end to Crown 47-percent owner James Packer’s 12-year foray into casinos after he re-badged his father’s media empire as a gambling concern in 2007. Packer quit the Crown board last year due to mental illness.

For Wynn, the deal would give the world’s second-largest casino company a foothold in a market popular with Chinese tourists,