China's Laws on Casino related activities are crystal clear!
President Xi Jinping's attitude, reasons and actions on same are also crystal clear!
The Global Casino Industry has experienced and watched what happened in Macau. Devastating!
In short, you break China Laws You Go to China Jail. It's that simple.
So, why did Crown deliberately do so?
In a word: GREED...
They want their A$71 Billion Revenues from China's VIP "whales" to go up (+42% from last year), not down.
Crown Board, Chairman and CEO and Mr James Packer knew the risks.
They gambled. They lost.
Not even James Packer can save Crown's employees.
It's over to China Inc. now. It's a wait-n-see situation for Crown, Australia and the World.
As far as CWN's SP is concerned, IMO expect a massive rout.
CWN Price at posting:
$11.15 Sentiment: None Disclosure: Not Held
