Hopefully its not wishful thinking but CWN rallying when SGR slipped yesterday caught our attention, perhaps another bid is in the offing or more likely the relative valuation elastic band simply stretched just that little too far – we prefer CWN over SGR at current prices but a failure to regain their casino licences will clearly scupper this view.
MM is bullish and long CWN
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Star Entertainment (SGR) v Crown Resorts (CWN)
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Star Entertainment (SGR) v Crown Resorts (CWN)
