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Ann: Response to Media Reports-CWN.AX, page-39

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JCoure

12,929 Posts.

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17/10/16

20:01

Post #: 19919798
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Originally posted by usc75 ↑

To help clarify. Here's the Facts are reported:

"According to the company's most recent filings, VIP turnover in the Australian casinos - which include Melbourne and Perth - soared 42 per cent last year to $71 billion..."

That's a lotta loot!

"But James Packer's $2 billion plan to build a mecca for Chinese high-rollers is now under threat. And it would appear the Chinese hierarchy is sparing no effort to send that message through loud and clear.

"There has been speculation authorities waited for Australian Jason O'Connor, Crown's head of VIP International, to make a rare trip to the mainland before they pounced.

"Having wreaked havoc in Macau, China appears determined to stem the flow of gamblers to Crown's Australian operations...."

(Source: ABC Reports)

Summary: I stand my earlier comments: namely, if China Inc. (read President Xi Jinping) wants to make a further example to reinforce China's Laws, then CWN share will Tank Big Time!

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$71 billion? Well, if that is the figure, CWN will go bust then and the SP should have fallen far more heavily 2day.

CWN Price at posting: $11.15 Sentiment: Sell Disclosure: Not Held
2 Upvote

0 Great analysis

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