It Was Over Before It Began, Wynn Ends Takeover Talks with Crown
In a surprising turn of events, Wynn Resorts has terminated all discussions with narrow-moat-rated Crown Resorts concerning a potential takeover, only a day after Crown released the news to the Australian market. Wynn cited the "premature disclosure of preliminary discussions" as the reason. Despite this being a disappointing outcome for Crown shareholders, we believe there are some positive takeaways. We view Wynn’s interest in Crown is an indication the group is in play and vindicates our posi...Crown Resorts is an entertainment and gaming group. Co. owns and operates two resorts, Crown Melbourne, which features the Crown Towers Melbourne hotel, Crown Metropol Melbourne hotel, and the Crown Promenade Melbourne hotel; and Crown Perth, which features the Crown Metropol Perth hotel and the Crown Promenade Perth hotel. In the U.K., Co. owns and operates Crown Aspinall in London, a casino in the West End entertainment district. Co. also holds equity interest in Melco Crown Entertainment, a developer, owner and operator of resorts in Macau and the Philippines. The resorts include: City of Dreams Macau, Macau Studio City, and City of Dreams Manila.
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