Log in
E-mail
Password
Show 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
End-of-day quote. End-of-day quote Australian Stock Exchange - 11/26
11.21 AUD   -0.71%
11/21Ord Minnett rates CWN as Buy
AQ
11/19Consumer Cos Up As Consumer Product Strength Offsets Department Store Selloff - Consumer Roundup
DJ
11/19Blackstone makes $6.2 bln bid for Crown Resorts
RE
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Crown Resorts : shareholders reject executive pay plans, but spare board

10/20/2021 | 10:50pm EST
FILE PHOTO: The logo of Australia's casino operator Crown Resorts adorns a fence surrounding the Crown Perth hotel and casino complex in Western Australia

SYDNEY (Reuters) - Shareholders of Australia's Crown Resorts Ltd voted against the casino company's executive pay plans for a second straight year at its annual meeting on Thursday, but turned down a follow-up option to oust its entire board.

The voting outcome reflects the precarious situation of the company https://www.reuters.com/business/australias-crown-resorts-warns-may-not-continue-going-concern-2021-09-09, 37% owned by billionaire James Packer, which has been embroiled in two years of scandal and humbling public inquiries. It has replaced most of its leadership over the past year in what it says is a display of commitment to culture repair.

"The Crown board accepts the organisation will continue to face near-term uncertainty," said acting Chair Jane Halton in a prepared speech at the meeting.

"However, under the leadership of our significantly renewed board and senior management team, Crown is well placed to continue the momentum of change," she added, noting that 10 of the 11 directors at the previous annual meeting had left.

Still, holders of 30.7% of Crown shares voted against the company's remuneration report at the virtual meeting, more than the 25% required to count as a no.

Since it was the second year of a vote against, Australian company law entitled shareholders to hold a subsequent vote on whether to fire the entire board. That vote failed, with 96% voting against the "spill" motion.

Of Crown's three casinos, its newest, in Sydney, had its gambling licence https://www.reuters.com/article/australia-crown-resorts-idUSL1N2KF0AU suspended just before the opening in December 2020 after an inquiry heard accounts of widespread money laundering and Packer's inappropriate influence over the board.

That triggered inquiries into its two other casinos, in Victoria and Western Australia states. The Victorian government is expected to say by the end of this month whether Crown can keep operating its biggest-earning resort in that state, while the Western Australia inquiry is ongoing.

(Reporting by Byron Kaye; Editing by Himani Sarkar)


ę Reuters 2021
All news about CROWN RESORTS LIMITED
11/21Ord Minnett rates CWN as Buy
AQ
11/19Consumer Cos Up As Consumer Product Strength Offsets Department Store Selloff - Consume..
DJ
11/19Blackstone makes $6.2 bln bid for Crown Resorts
RE
11/19GLOBAL MARKETS LIVE : Alibaba, Applied Materials, Ryanair, Unilever, Apple....
11/19WALL STREET STOCK EXCHANGE : Europe’s Covid wave weighs on indexes
11/19MarketScreener's World Press Review - November 19, 2021
11/19Australia shares end higher, post second straight weekly loss
RE
11/19Australian Shares Log Another Day of Gains on Crown Resorts Surge, Boost from Healthcar..
MT
11/19Crown Resorts Receives Third Non-Binding Takeover Proposal from Blackstone Shares Soar ..
MT
11/19THE BLACKSTONE GROUP INC. (NYSE : BX) made non-binding proposal to acquire the remaining 9..
CI
More news
Analyst Recommendations on CROWN RESORTS LIMITED
More recommendations
Financials
Sales 2022 2 066 M 1 477 M 1 477 M
Net income 2022 -40,5 M -29,0 M -29,0 M
Net Debt 2022 434 M 311 M 311 M
P/E ratio 2022 -361x
Yield 2022 1,34%
Capitalization 7 591 M 5 403 M 5 428 M
EV / Sales 2022 3,88x
EV / Sales 2023 2,47x
Nbr of Employees 12 489
Free-Float 53,2%
Chart CROWN RESORTS LIMITED
Duration : Period :
Crown Resorts Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CROWN RESORTS LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 11,21 AUD
Average target price 11,45 AUD
Spread / Average Target 2,15%
EPS Revisions
Managers and Directors
Steven B. McCann Chief Executive Officer, Director & MD
Alan McGregor Chief Financial Officer & Secretary
Sarah Jane Halton Chairman
Steven J. Blackburn Chief Compliance & Financial Crimes Officer
Nigel Barclay Morrison Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
CROWN RESORTS LIMITED16.41%5 403
GALAXY ENTERTAINMENT GROUP LIMITED-23.40%25 763
FLUTTER ENTERTAINMENT PLC-28.01%23 817
EVOLUTION AB15.00%22 675
ARISTOCRAT LEISURE LIMITED44.52%21 360
SANDS CHINA LTD.-42.09%20 464