Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Crown Resorts Limited
  6. News
  7. Summary
    CWN   AU000000CWN6

CROWN RESORTS LIMITED

(CWN)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Crown Resorts : Victoria extends timeline, funding for inquiry into Australia's Crown Resorts

06/10/2021 | 08:37pm EDT
FILE PHOTO: The logo of Australian casino operator Crown Resorts adorns a fence surrounding the Crown Perth hotel and casino complex in Western Australia

(Reuters) - Australia's Victoria state said on Friday it would give additional time and funding to the Royal Commission that is probing casino operator Crown Resorts' operations in the state, to allow it to investigate a wider range of matters.

The move steps up the duration and depth of the regulatory scrutiny on Crown, at a time when it is trying to overturn a suspension of its new Sydney casino licence and is balancing buyout talks with suitor Star Entertainment Group.

The Victorian government said it approved an extension to Oct. 15 from the initial Aug. 1 deadline, and an increase in the funding to A$19.75 million from A$10 million ($7.75 million).

The Royal Commission inquiry into Crown was appointed by the state in February to assess its fitness for holding a gambling licence, with other states also probing the company after media accused it of ties to money laundering.

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

Australian media reports accused the company, one-third owned by billionaire James Packer, of doing business with tour operators with ties to organised crime. Crown initially denied the allegations but admitted at the Sydney inquiry in 2020 that some of the claims were true.

Victoria also said the Royal Commission would also look deeper into the corporate culture of Crown Melbourne and claims brought forward in evidence so far that included allegations Crown Melbourne underpaid casino tax.

Crown said in a separate statement that it would continue to cooperate with the inquiry.

($1 = 1.2905 Australian dollars)

(Reporting by Rashmi Ashok in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CROWN RESORTS LIMITED -0.57% 12.17 End-of-day quote.26.38%
THE STAR ENTERTAINMENT GROUP LIMITED -1.33% 3.71 End-of-day quote.0.82%
All news about CROWN RESORTS LIMITED
06/15CROWN RESORTSá : Receives Revised Funding Proposal from Oaktree Capital Manageme..
MT
06/14Australian shares hit record high, U.S. Fed meeting in focus
RE
06/14Australia's Crown says Oaktree's new $2.4 billion offer could give it 10% sta..
RE
06/14Crown Resorts Gets Increased Buyback Proposal From Oaktree -- Update
DJ
06/14Crown Resorts Gets Increased Buyback Proposal From Oaktree
DJ
06/11Consumer Shares Rise Amid Stronger Consumer Sentiment -- Consumer Roundup
DJ
06/10CROWN RESORTSá : Royal Commission Extends Investigation Period for Crown Resorts..
MT
06/10Australian shares fall as financials weigh; benchmark set for weekly drop
RE
06/10CROWN RESORTSá : Victoria extends timeline, funding for inquiry into Australia's..
RE
06/10CROWN RESORTSá : Victoria state extends timeline on powerful inquiry into Austra..
RE
More news
Financials
Sales 2021 1 602 M 1 214 M 1 214 M
Net income 2021 -122 M -92,3 M -92,3 M
Net Debt 2021 960 M 727 M 727 M
P/E ratio 2021 -71,9x
Yield 2021 0,78%
Capitalization 8 241 M 6 250 M 6 245 M
EV / Sales 2021 5,74x
EV / Sales 2022 2,99x
Nbr of Employees 12 166
Free-Float 53,9%
Chart CROWN RESORTS LIMITED
Duration : Period :
Crown Resorts Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CROWN RESORTS LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Last Close Price 12,17 AUD
Average target price 12,33 AUD
Spread / Average Target 1,34%
EPS Revisions
Managers and Directors
NameTitle
Steven B. McCann Chief Executive Officer, Director & MD
Alan McGregor Chief Financial Officer & Secretary
Helen Anne Coonan Executive Chairman
Steven Blackburn Chief Compliance & Financial Crimes Officer
Sarah Jane Halton Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
CROWN RESORTS LIMITED26.38%6 238
EVOLUTION AB74.84%36 411
SANDS CHINA LTD.-1.62%35 223
GALAXY ENTERTAINMENT GROUP LIMITED0.25%34 309
FLUTTER ENTERTAINMENT PLC-2.40%34 001
CAESARS ENTERTAINMENT, INC.40.45%21 769