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Crown Resorts (CWN)

$8.91
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What does Bull and Bear mean?

Market Matters View Point?

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Market Matters
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MM is bullish and long CWN

OPINION

Star Entertainment (SGR) v Crown Resorts (CWN)

Only last Friday we noticed SGR slipping lower while CWN rallied reinforcing our preference for the embattled CWN but as we often say “what a difference a few days makes” in this case Star Entertainment (SGR) has fallen under the scrutiny of the regulator following claims to similar wrongdoings as at rival and previous target CWN – the allegations aired...

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Star Entertainment (SGR) v Crown Resorts (CWN)

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.

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Crown Resorts (CWN) $9.50

CWN is arguably the wild card in todays bunch and the MM Flagship Growth Portfolio as it endures the scrutinies of the regulatory microscope. We believe that CWN will eventually be operating casinos in its existing venues albeit in a far more ethical manner hence if this does prove true the stocks very cheap under $10 especially as suitors were circling...

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Crown Resorts (CWN) $9.62

CWN has had the kitchen sink thrown at it over recent years from huge regulatory issues, a royal commission to of course COVID but as we saw with the banks this is exactly when lows are often formed. MM believes its unlikely that the likes of Star Entertainment (SGR) or Blackstone will re-engage until the mist clears towards its casino licences but unless Victoria or...

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Crown (CWN) $9.33

FY21: The casino was out with results today that provided a good outline of the woes they’ve faced over the past 12 months thanks to lockdowns, lost revenue and Royal Commissions – can it get much worse? That’s ultimately the question for investors and today CWN did their best to paint a picture of better times ahead, that of course will be dictated by...

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Crown (CWN) $9.08

CWN +1.68%: The Royal Commsion heard closing submissions from Crown today who confirmed the CEO of Crown Melbourne would go while Chair Helen Coonan will also fall on her sword. All fairly typical given CWN’s predicament. New management & board have a mandate to clean up CWN and from a shareholder perspective, we’re hoping they’re given the opportunity.

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Crown (CWN) $10.85

CWN – 1.27%: Shares were lower today while the 4% decline in the Hybrid Securities (CWNHB) also caught our attention. Chair Helen Coonan was in the witness box doing her best to argue that the ‘old Crown’ is no more and that new management and a refresh of the board was enough to offer regulators piece of mind.

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Crown Resorts (CWN)

MM was on the right end of takeover interest in Crown Resorts (CWN) although the regulatory risks and hassles have capped the stocks upside since May, if we had been nimble and had sold CWN above $13 we would be looking to re-enter at current levels below $12 as the risk / reward becomes more attractive as the stock slips lower on ongoing compliance concerns.

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Weekly Video Update

Yesterday morning I chatted with Ausbiz around the bond market dynamics and how that impacts particular sectors on the ASX. I also discussed Telstra (TLS) and our views on the ‘takeover’ plays that currently reside in our Flagship Growth Portfolio, namely Crown (CWN) & Altium (ALU).

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ACTION

CWN
UPDATED 12/10/2021 17:40
MM is bullish and long CWN
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CWN
UPDATED 08/10/2021 16:52
MM is bullish and long CWN
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CWN
UPDATED 28/09/2021 11:18
MM is bullish CWN below $10
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CWN
UPDATED 15/09/2021 08:07
MM likes the risk / reward towards CWN under $10
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CWN
UPDATED 31/08/2021 09:22
We remain long CWN in our Flagship Growth Portfolio
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CWN
UPDATED 04/08/2021 08:28
MM remains cautiously bullish CWN
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CWN
UPDATED 13/07/2021 08:57
MM remains bullish CWN
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CWN
UPDATED 06/07/2021 10:19
MM remains long and bullish CWN
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CWN
UPDATED 26/05/2021 09:59
MM is considering taking profit selling our CWN position
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CWN
UPDATED 24/05/2021 17:04
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Crown Casino in Melbourne & building Crown Casino Sydney

Crown Resorts (CWN) operates and manages gaming and entertainment facilities, bars, restaurants, nightclubs, cinemas and retail outlets. The Company also develops hotels and conference centres facilities. It’s primary operation is in Melbourne however it with soon open a new casino in Sydney

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Star Entertainment (SGR) v Crown Resorts (CWN)
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Star Entertainment (SGR) v Crown Resorts (CWN)
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Crown Resorts (CWN)
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Crown Resorts (CWN)
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Crown Resorts (CWN)
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Crown Resorts (CWN)
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Crown Limited (CWN)
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Crown Resorts (CWN)
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Crown Resorts (CWN)
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Crown Resorts (CWN)
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Crown Resorts (CWN)
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Crown Resorts (CWN)
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Crown Resorts (CWN) v Star Entertainment (SGR)
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Crown Resorts (CWN)
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3 Star Entertainment (SGR) v Crown Resorts (CWN)
Tagged video
WATCH
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Weekly Video Update: James covers bond yields, Telstra, Crown & Altium
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WATCH
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Weekly Video Update: We cover our views on ALU, CWN, Z1P & WZR. Published 16th June
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