Crown Resorts is a defensive business augmented by an attractive long-term growth profile.
Narrow moat-rated Crown Resorts has had a mixed start to fiscal 2017. During 1 July to 16 October 2016, main floor gaming revenue (excluding VIP) grew 1% on the previous corresponding period while nongaming revenue was up 5%. This compares with respective growth of 5.8% and 1.5% in fiscal 2016. VIP was described as “softer than the prior year across both properties†and before the recent events in China involving Crown staff. Wagering and online businesses showed good revenue growth but account ...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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