I suspect it will just go back whence it came - nothing has changed valuation wise. It is possible the international collection of odds and ends could look like an orphan, and not be worth as much as everybody thinks - battling it out in Las Vegas and Macao against tough opponents. Also I'm not sure if the property trust will get the Barangaroo property or not - but I suspect that it might have a couple of good years as a novelty item - but it will not be another Crown Melbourne as the market is already somewhat catered for already there, so for a property trust that will be a bit of a risk asset that maybe should stay in the mothership to get the best pricing.
I suspect certain key holders will want to bail before the risk of Barangaroo, as it will not be a good look if Crown Melbourne has to hold up the whole planet like Atlas. Barangaroo might end up hitting the financial targets expected from such a massive investment, but I think the odds are low after an initial period of excitement.
All IMO
CWN Price at posting:
$12.74 Sentiment: Sell Disclosure: Held