Morningstar | Crown and Wynn Resorts Enter Takeover Discussions
We view Crown Resorts as a high-quality company offering both a defensive earnings quality and an attractive growth profile. Its Melbourne and Perth casinos have a proven track record of delivering resilient earnings, underpinned by long-dated licences. Each boasts a privileged position as the sole casino operator in the relevant state and, as a result of unrelenting reinvestment throughout the years, has built up scale that is likely to deter new entrants, in the unlikely event that further licences are granted. The company recently scrapped the majority of its international projects, in favour of fortifying its balance sheet and focusing on improving the domestic assets. The Crown Sydney development will be a key source of growth, leveraging both the rapidly growing Chinese middle class and Australia's attractiveness as a tourist destination.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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.