Crown casino may sell cheaply

Original article by Lachlan Moffet Gray
The Australian – Page: 17 : 6-Aug-21

Analysis by Credit Suisse suggests that the value of James Packer’s 37 per cent stake in Crown Resorts would fall by about $300m to just $1.86bn if the group were to lose the licence for its Melbourne casino. Credit Suisse also says a ruling that Crown is unsuitable to hold the Melbourne licence could force it to sell the casino complex for less than full value, given that it is located on leased government land. However, Credit Suisse does not expect Victoria’s royal commission into Crown Resorts to recommend cancelling the licence outright.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CROWN MELBOURNE LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED

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