0915 [Dow Jones]Credit Suisse says the Crown Gaming business to be split out of PBL (PBL.AU) is the best pick in the gaming sector. "We believe that strong EBITDA growth at Burswood (FY07 +37%, FY08 +16%) should fuel near-term EPS growth," analyst says. "Crown's Macau income should swing from loss to solid profit in 2H08." Notes Crown is also in the process of making three acquisitions, one of which is an attempt to wholly acquire a sizeable offshore casino (not Sky City). Estimates valuation of A$17.30 for Crown after subtracting two forecast dividend payments. Crown is due to start trading Dec. 17.(SVM)
PBL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
