Conclusions: 1. Winners: China Inc, & President Xi jinping. 2....

First 35 Last

Share
Profile

Follow
usc75

4,056 Posts.

33

26/10/16

07:59

Post #: 20121638
Share

Originally posted by POTUS ↑

Ten more held in China hit on Crown Resorts

China’s crackdown on James Packer’s Crown Resorts has widened, with 10 Chinese organisers of junkets licensed by the casino operator to bring high rollers to its Australian properties now believed to be in custody.

A day after 18 Crown employees in China were detained in lightning raids across the country, police moved on 87 Crown customers, inviting them to “take tea” — or present themselves for questioning.
Ten of them, who are organisers of junkets, were detained and remain in custody, The Australian understands.

An industry insider said Crown customers were furious that the company’s database was reportedly in the hands of Chinese authorities, following their seizure of the employees’ computers and smartphones during the arrests.

It also emerged yesterday that a Crown executive was warned by a customer based in Shanghai, two weeks before authorities acted, that trouble was brewing. The arrests, in co-ordinated nationwide raids, took place overnight on October 14.

The Crown team had been tracked by authorities for about a year, the insider said.

http://www.theaustralian.com.au/bus...k=0b4c9d4b70196bea36319539b0d58346-1477427496

Expand

Conclusions:
1. Winners: China Inc, & President Xi jinping.

2. Losers: (a) James Packer, Crown, Crown shareholders.
(b) Crown's Chinese "Whale" and VIP Customers. 87 caught so far...just a trickle!

3. Crown's Business Model: now should be trashed.

4. Blame Game: rests squarely with Crown's Top People.

5. Share Price: of Crown-plus all relevant Casino's-to Tank. Today and beyond.

CWN Price at posting: $10.70 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

Reply

Top Stories

PNN

Power gets set for 1000-metre maiden drilling program in Brazil

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Quit before you're fired: Russia bans uranium exports to USA, duplicating extant US ban

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

US election outcomes: Key economic and market takeaways

There are more pages in this discussion • 242 more messages in this thread...

First 35 Last

Add CWN (ASX) to my watchlist

Conclusions: 1. Winners: China Inc, & President Xi jinping. 2....

Top Stories

Power gets set for 1000-metre maiden drilling program in Brazil

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Quit before you're fired: Russia bans uranium exports to USA, duplicating extant US ban

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

US election outcomes: Key economic and market takeaways

Featured News