|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||18.40 - 18.40|
|52 Week Range||17.01 - 20.42|
|Beta (3Y Monthly)||0.12|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.85 (4.63%)|
|1y Target Est||N/A|
Adam Dawes of Shaw and Partners says Crown Resorts would be a "good fit" for Wynn, and predicts that the deal would likely be put back on the table in future.
Colin Mansfield of Fitch Ratings says the acquisition of Crown Resorts' assets would give Wynn Resorts "a strong foothold right off the bat" in Australia.
Wynn stock sinks after the company terminated preliminary transaction discussions with Crown Resorts, saying the disclosure of those talks were premature. Yahoo Finance's Seana Smith and Ines Ferre discuss.
Wynn's decision to walk away from merger talks is a "tactical play," Adam Dawes of Shaw and Partners told CNBC Wednesday. "The market today is definitely looking at this as a bit of a ploy and [Wynn] will perhaps put the deal back on the table once the dust has settled," he said. Wynn is likely looking at gaining new exposure to Australia as a defensive move, he said.
aborted talks to acquire Australia's largest casino operator, Crown Resorts Ltd. Will Wynn revisit the deal, driving the shares higher again? Crown Resorts shares dropped 9% in Sydney on Wednesday when Wynn walked away.
Wynn Resorts' recent $7.1 billion takeover offer for Australia's Crown Resorts signals a change in strategy at the world's second-largest casino operator, analysts told CNBC.
With growth prospects in Macau shrinking and its license there coming up for renewal, the Vegas-based operator is right to think about diversifying its overseas presence – even if the abandoned offer for James Packer’s Crown Resorts Ltd. was far too generous. Wynn has no casinos outside the U.S. other than Macau, where its focus on Chinese high-rollers looks a little shaky given the slowdown in China’s economy. It might also be forced to take on local partners in Macau when the gaming licenses are re-awarded in 2022. Wynn’s other big potential option is Japan, which has recently legalized casino gambling.
Shares in Australia's Crown Resorts Ltd tumbled on Wednesday after U.S. casino giant Wynn Resorts Ltd quit discussions for a AA$10 billion (£5.5 billion) buyout, although some investors appeared to be hoping for a change of heart. Wynn, the world's second-largest casino operator, walked away from the deal after details of the offer, which had sent Crown shares soaring more than 20 percent, became public through a leak to an Australian newspaper. The indicative offer for Australia's biggest casino operator had been viewed by investors as opportunistic but also only the beginning of a drawn-out pursuit.
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Investing.com - Asian stocks fell in morning trade on Wednesday after the International Monetary Fund (IMF) slashed its global economic growth forecast for 2019.
climbed after analysts at Wedbush raised the tech giant's price target to $225 from $215 and maintained their outperform rating on the stock. Stocks ended down Tuesday as investors reacted to the International Monetary Fund's prediction of continued slowing global economic growth in the first half of the year and as trade tensions between the U.S. and the European Union heated up.
Wynn's backtracking illustrates how media leaks of deal talks can test the resolve of potential acquirers. Crown shares jumped as much as 22 percent on the news to A$14.37, close to the $A14.75 per share level that Crown said Wynn's latest cash-and-stock offer valued the company. In this case, Wynn's inexperience with pursuing big deals also likely played a factor, some analysts added.
after news of the deal was leaked, Wynn said Tuesday. "Following the premature disclosure of preliminary discussions Wynn Resorts has terminated all discussions with Crown Resorts concerning any transaction," Wynn Resorts, the world's No. 2 casino operator, said in a statement.
SYDNEY (AP) — Wynn Resorts abruptly ended buyout talks with Australia's largest casino operator Tuesday after word of a potential buyout were leaked.
Wynn Resorts stock had a turbulent morning, as reports of a possible takeover of Crown Resorts led Wynn to say it was terminating those discussions.
Shares of Wynn Resorts Ltd. dropped 3.9% in morning trade Tuesday, to pull back from the previous session's 7-month closing high, after the casino operator said it terminated merger discussions with Australia's Crown Resorts Ltd. The announcement comes hours after the company confirmed it was in preliminary discussions. Wynn said it decided to terminate the talks after Crown's "premature disclosure" of the discussions of the potential deal, which could reportedly be worth roughly $7.1 billion, as Wynn described the discussions as "confidential." Crown's U.S.-listed shares were still up 7.6% in morning trade, while the Australia-listed shares soared 20% in overnight trading. Wynn's stock has lost 23% over the past 12 months, while the S&P 500 has gained 10%.