Crown Resorts Ltd (CWN.AX)
24 Apr 2019
HONG KONG (Reuters Breakingviews) - Crown Resorts could become a handy Plan B. James Packer’s $6.4 billion Australian casino empire is effectively up for sale after Wynn Resorts broke off talks this week when details of its offer spilled into the open. The would-be target’s shares are trading higher than they were before bid news surfaced. Any operators that fail to win a licence in Japan may yet train their sights Down Under.
SYDNEY Shares in Australia's Crown Resorts Ltd tumbled on Wednesday after U.S. casino giant Wynn Resorts Ltd quit discussions for a A$10 billion ($7.1 billion) buyout, although some investors appeared to be hoping for a change of heart. | Video
* Crown still trading almost 10 pct higher than pre-offer price (Adds quotes from investors, background, updates shares)
SYDNEY, April 10 Shares in Australian casino operator Crown Resorts Ltd tumbled on Wednesday after U.S. casino giant Wynn Resorts Ltd abruptly ended takeover talks overnight.
NEW YORK Trade-sensitive industrials dragged Wall Street lower on Tuesday as tensions over tariffs between the United States and its European trading partners went from simmer to boil and the IMF lowered its global growth outlook. | Video
* Indexes down: Dow 0.72%, S&P 0.61%, Nasdaq 0.56% (Updates to market close)
NEW YORK, April 9 Wall Street lost ground on Tuesday as tariff tensions between the United States and its European trading partners went from simmer to boil and the IMF cut its global growth outlook.
Wynn Resorts Ltd, the world's No. 2 casino operator, said on Tuesday it scrapped preliminary talks to acquire Crown Resorts Ltd for A$10 billion ($7.1 billion), after the Australian Financial Review broke news of the negotiations. | Video
* Wynn shares down 3.2 percent (Adds context on the aborted talks)
Casino operator Wynn Resorts Ltd said on Tuesday it terminated takeover discussions with Australia's Crown Resorts.