Tag: CWN

Crown Resorts one time stalker, Wynn Resorts says it has ended its attempts to sell it’s about to open Boston Casino to MGM.

Is Crown Resorts moving back in the sights of Wynn, the US casino’s group? Wynn revealed Friday US time that it is looking to sell its nearly competed $US2.6 billion casino in outside of Boston to rival casino operator, MGM Resorts International.

Investors aren’t convinced that Crown Resorts, the 46% casino and hotel group controlled by James Packer, isn’t off the takeover play list.

Shares in Crown Resorts will plunge this morning on the ASX after US casino group, Wynn Resorts ended takeover talks overnight Tuesday, Sydney time.

Australia’s largest casino operator, the James Packer-backed Crown Resorts, is in discussions regarding a potential takeover by the Las Vegas-based casino giant Wynn Resorts.

Crown Resorts shares survived the news of chairman James Packer’s departure from the board for the second time in just over two years.

Next Thursday’s Crown Resorts annual meeting is shaping up one of the most explosive on record after sensational claims were aired in Federal parliament yesterday.

Billions of dollars has been wiped off the value of Asian gambling companies in the wake of the surprise arrests of 18 executives employees of James Packer’s Crown Resorts (CWN) in China late last week.

Crown Resorts faces the prospect of ratings downgrades from Moody’s and Fitch in the wake of last week’s outlining of plans to demerge its international casino holdings and separate its Australian property holdings from its local casinos.

Shares in Crown Resorts jumped sharply yesterday after the casinos operator announcement late Wednesday that would spin off its troubled Macau investment (and other international assets) as part of efforts to realise the value of the group’s casinos in Melbourne, Perth and eventually Sydney.

James Packer’s Crown Resorts (CWN) has announced plans to spin off some of its international assets and explore a possible float of some of its Australian property holdings.

A rough reception for Crown Resorts (CWN) shares yesterday after it produced a weaker than forecast result thanks to the slide in gambling revenues in the casino haven of Macau.

James Packer’s private company, Consolidated Press Holdings (CPH), has played down Wednesday’s speculation that it was going to team up with private equity and snaffle parts or all of Crown Resorts (CWN).

Shares in Crown Resorts (CWN) surged by nearly 15% yesterday to close on $12.23 on media reports that James Packer is looking at taking the company private.

Crown Limited, an entity recently separated from its parent company, PBL Media, today announced the sale of its interest in Monarch Enterprises Holdings B.V.

Is there a re-rating of James Packer’s Crown gaming business underway?

Gaming firm and recent offshoot of Publishing and Broadcasting, Crown (CWN) announced today that it has agreed to acquire casino operator Cannery Casino Resorts (CCR) for $2 billion plus acquisition costs of about $57 million.

Crown (CWN), the gambling business spin-off of defunct Publishing and Broadcasting (PBL) has fallen on its second day of listing, after yesterday displaying a promising debut.