Bond holders won't let crown buy its notes back - 5.75% yield is just too tasty when there is no government bonds even close to that. The cash is in the bank from selling Melco, which makes the note-holders happy since they know they have basically no risk, so what should crown do with the money?
I propose all shareholders should go the Palms room at Crown Melbourne, fill the room with fresh $50 notes and have money fights/scrooge mc duck style swimming in cash/etc.
If that isn't an option, and given most of my fellow shareholders can be a little conservative I'll assume it isn't - why not buy Reef Casino Trust and a few other small casinos, or an international play like Amaya Inc?
Disclosure - CWN is a "core holding" of mine, there to anchor my more exciting holdings with a decent dividend and stable valuation.
CWN Price at posting:
$12.58 Sentiment: Buy Disclosure: Held
