MUMBAI, Jan 13 (Reuters Breakingviews) - The embattled Aussie casino empire is ready to drop its poker face and back the buyout firm’s fourth bid, sweetened to $6.4 bln. Blackstone’s impressive turnaround track record in hospitality deals leaves it well-placed to maximise returns, even after the multiple price hikes. Full view will be published shortly. Follow @ugalani on Twitter CONTEXT NEWS - Australian casino operator Crown Resorts said on Jan. 13 it had received an improved takeover proposal from private equity firm Blackstone valuing the company’s equity at A$8.9 billion ($6.4 billion) and that its board was likely to back it unless a higher offer emerged. - The latest non-binding offer of A$13.10 a share is a 13% premium to the last closing price. The improved proposal was made after considering non-public information during initial due diligence, Crown said. - Blackstone previously offered A$12.5 a share on Nov.19, A$12.35 a share on May 10 and A$11.85 a share on March 22. - The proposal is conditional on regulatory approvals in three Australian states. Crown said earlier Blackstone indicated “that there is no reason to believe that an approval would not be realised.” - Crown shares jumped 8% to A$12.56 by midday local time in Sydney, roughly 0100 GMT.