Crown property assets spin-off on the cards

Original article by James Thomson, Larry Schlesinger
The Australian Financial Review – Page: 20 : 1-May-20

Citi analyst Bryan Raymond contends having Blackstone as a new shareholder increases the likelihood that casino operator Crown Resorts could spin-off its property assets. Crown contemplated the idea in June 2016, but abandoned the idea some months later. It is estimated Crown’s property assets could be worth up to $5.6 billion, while Dean Dransfield from consultants Dransfield Hotels and Resorts says Crown should only sell its accommodation assets.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CITI AUSTRALIA PTY LTD, BLACKSTONE, DRANSFIELD HOTELS AND RESORTS PTY LTD

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