CWN +8.70%: The embattled casino & property company was thrown a life line today retaining their Victorian casino licence under a regime of strict conditions. While it’s clearly a positive, the conditions will be tough and the impact on earnings is hard to quantify at this stage. We estimate that Crown’s property portfolio has a value of ~$8.00-$8.50 and the Casino is now worth ~$6.00 in our view making it around ~40% cheap. Star Entertainment (SGR) also rallied ~5% on the news. Given the remediation required across Crown & Star following recent revelations, a tie up to reduce the increased cost of compliance would make total sense.
scroll
Buy Hold Sell: The best and worst performers of FY25
Close
Thursday 11th September – Dow off -220pts, SPI off -20pts
Close
Wednesday 10th September – Dow up +196pts, SPI down -4pts
Close
MM is bullish CWN
Add To Hit List
Relevant suggested news and content from the site

Video
WATCH
Buy Hold Sell: The best and worst performers of FY25
James Gerrish & Henry Jennings

Podcast
LISTEN
Thursday 11th September – Dow off -220pts, SPI off -20pts
Daily Podcast Direct from the Desk

Podcast
LISTEN
Wednesday 10th September – Dow up +196pts, SPI down -4pts
Daily Podcast Direct from the Desk
Members only
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.