CWN.AX - Crown Resorts Limited
| Previous Close | 11.97 |
| Open | 11.85 |
| Bid | 11.80 x 0 |
| Ask | 11.81 x 0 |
| Day's Range | 11.69 - 11.90 |
| 52 Week Range | 11.23 - 14.59 |
| Volume | 2,126,397 |
| Avg. Volume | 1,682,532 |
| Market Cap | 7.997B |
| Beta (3Y Monthly) | 0.84 |
| PE Ratio (TTM) | 16.38 |
| EPS (TTM) | 0.72 |
| Earnings Date | Aug 21, 2019 |
| Forward Dividend & Yield | 0.60 (4.64%) |
| Ex-Dividend Date | 2019-03-20 |
| 1y Target Est | 13.60 |
- Moody's•14 days ago
Melco Resorts Finance Limited -- Moody's: Melco Resorts Finance's ratings unaffected by acquisition of Crown stake
Moody's Investors Service says that Melco Resorts Finance Limited's (MRF) Ba2 corporate family and senior unsecured ratings are not immediately affected by the announcement on 30 May that its parent, Melco Resorts & Entertainment Limited (MRE), will acquire a 19.99% stake in Crown Resorts Limited (Baa2 stable) for AUD1.8 billion ($1.2 billion). "The acquisition of a 19.99% stake in Crown will significantly increase the Melco group's debt leverage, but the group's adequate financial flexibility and Crown's good credit quality mitigate this risk," says Sean Hwang, a Moody's Analyst. Moody's expects MRE will fund the majority of the stake purchase with additional debt, while also utilizing part of its internally generated cash and cash on hand, which amounted to $1.5 billion on a consolidated basis as of 31 March 2019.
- Reuters•17 days ago
Melco buy-in triggers regulatory review of Crown's $1.5 bln Sydney casino
An Australian regulator said it will review its approval for Crown Resorts' $1.5 billion casino being built in Sydney, after the gambling giant's founder James Packer sold nearly half his stake in the company to Hong Kong's Melco Resorts. The New South Wales gambling regulator had given its nod in 2014 to Crown's prized growth prospect on condition Crown would not do business with the father of Melco CEO Lawrence Ho, Stanley Ho, who at the time under investigation in Australia and the United States for possible ties to organised crime.
- Reuters•18 days ago
Casino operator Melco to buy 20% of Crown Resorts from billionaire Packer
HONG KONG/BENGALURU (Reuters) - Melco Resorts & Entertainment will buy a 20% stake in Australia's Crown Resorts from casino mogul James Packer for A$1.76 billion ($1.22 billion), the U.S. company said, months after Wynn Resorts withdrew an offer to buy Crown. The deal presents a great opportunity for Melco, Chief Executive Lawrence Ho told Reuters, as the operator of casinos across Asia, including in Macau and the Philippines, eyes further expansion. Crown's proposed deal with Wynn, the world's No. 2 casino operator, fell through in early April after details were leaked to the media, denying Packer a huge payout as he continues his withdrawal from business life because of mental health issues.
- Motley Fool•2 months ago
Wynn Deal for Crown Resorts May Not Be as Dead as It Looks
Both may be playing a longer game to get a better deal.
- Motley Fool•2 months ago
Wynn Resorts Acquisition Hunt On Hold
Crown Resorts is on Wynn Resorts' radar but talks have been called off, for now.
- Benzinga•2 months ago
Pro: Wynn, Crown Resorts Will Resume Acquisition Talks
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.
- TheStreet.com•2 months ago
Wynn Resorts Craps Out on Crown Resorts, but Will It Return to the Table?
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.
- CNBC•2 months ago
Wynn's talks with Crown Resorts signal a strategic shift, analysts say
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.
Bloomberg•2 months agoLas Vegas Gambler Dodges a $7 Billion Bullet
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.
- Reuters•2 months ago
Crown shares tumble after Wynn cancels $7.1 billion casino takeover
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.
- Reuters•2 months ago
PRESS DIGEST- Financial Times - April 10
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines Indivior charged over alleged scheme to boost prescriptions ...
- Investing.com•2 months ago
Asian Stocks Fall as IMF Cut Global Growth Outlook
Investing.com - Asian stocks fell in morning trade on Wednesday after the International Monetary Fund (IMF) slashed its global economic growth forecast for 2019.
- Reuters•2 months ago
Wynn ends A$10 billion acquisition talks with Australia's Crown Resorts
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.
- CNBC Videos•17 days ago
Crown Resorts has 'premier' Australian assets, says Melco CEO
Those assets stand out as some of the best properties globally, Lawrence Ho from Melco Resorts & Entertainment says.
- CNBC Videos•2 months ago
Crown, Wynn Resorts deal will happen 'eventually': Shaw and Partners
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.
- CNBC Videos•2 months ago
Crown Resorts' assets would be 'positive' for Wynn: Fitch Ratings
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.
- Yahoo Finance Video•2 months ago
Wynn terminates discussions with Crown Resorts, sending stock sliding
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.
