The governments reputation is on the line also, what will people think if they just give them a slap on the wrist? What precedence will this set for other businesses around the country? Money laundering, tax evasions, does that mean nothing nowadays?
Yes, I doubt it'll be a simple removal of license overnight, but a transition will take place under new ownership, and how much of the remaining proceeds investors get after that will be potentially insignificant.
Whether it's The Star, or an overseas bidder like Blackstone takes the helm, there will need to be an onsite regulator of sorts funded by the licensee.
The gaming industry has already commenced a fundamental shift i.e. no junkets, cashless gaming, revision of RG laws etc. So for those who are referencing how Crown was 6-12 months ago, or even 2-3 years for that matter, your judgement is skewed by a completely different operating environment. Crown will need to find new streams of revenue as junket operators are off the table, and domestic revenue is in disarray with the current climate.
Now that I think about it, a $5.8B market cap is expensive for some real estate, partial operating hours and a hotel.
CWN Price at posting:
$8.61 Sentiment: Sell Disclosure: Not Held
