CWN is feeling the effects of the world economic problems. Also stiff competition in Singapore from two integrated resorts.Also the Australian Govt proposal requiring people to set bet limits on the poker machines.
Crown Melbourne EBITDA $505 Mill up 6% Burswood " " " $192.2 Mill down 8.6% Melco (Partenership 33.4% interest)Crowne's equity accounted gain of $34.9Mill.
Also investments in Cannery and Aspers and Betfair.
There is no economic mote around Crown at 1.9 Book value. The entry to this type of business is open to competition from other gambling business.
So not a line winning cards here ( so to speak )
CWN Price at posting:
$8.14 Sentiment: Hold Disclosure: Held
