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    CWN   AU000000CWN6

CROWN RESORTS LIMITED

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Crown Resorts : Australia's Crown says Perth casino inquiry timeline extended to March 2022

07/25/2021 | 08:02pm EDT
FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia

(Reuters) - Casino operator Crown Resorts Ltd on Monday said Western Australia state had extended the time given to a Royal Commission probing operations at its Perth casino to March 2022.

The move comes after Victoria state last month said it would give additional time and funding to a separate Royal Commission that is probing Crown's operations in that state, to allow it to investigate a wider range of matters.

The ongoing inquiries into Crown are to assess its fitness for holding gambling licences in various Australian cities after media accused the company, one-third owned by billionaire James Packer, of ties to money laundering.

A final report from Western Australia was initially expected in mid-November, but will now be delivered on March 4, 2022.

"The state government believes that public interest will be best served if the Perth casino Royal Commission has sufficient time to produce its final report," Western Australia Premier Mark McGowan said.

A Royal Commission is Australia's most powerful type of public inquiry and has the power to compel witnesses.

(Reporting by Shashwat Awasthi; Editing by Christopher Cushing and Richard Pullin)


© Reuters 2021
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Analyst Recommendations on CROWN RESORTS LIMITED
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Financials
Sales 2022 2 106 M 1 530 M 1 530 M
Net income 2022 -31,7 M -23,1 M -23,1 M
Net Debt 2022 374 M 271 M 271 M
P/E ratio 2022 -1 116x
Yield 2022 1,40%
Capitalization 6 440 M 4 683 M 4 678 M
EV / Sales 2022 3,24x
EV / Sales 2023 2,02x
Nbr of Employees 12 489
Free-Float 53,9%
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Technical analysis trends CROWN RESORTS LIMITED
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 8
Last Close Price 9,51 AUD
Average target price 10,67 AUD
Spread / Average Target 12,2%
EPS Revisions
Managers and Directors
Steven B. McCann Chief Executive Officer, Director & MD
Alan McGregor Chief Financial Officer & Secretary
Sarah Jane Halton Chairman
Steven Blackburn Chief Compliance & Financial Crimes Officer
Antonia Korsanos Independent Non-Executive Director
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