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Crown spin-off Macao

BUSINESS mogul James Packer is set to spin off his Australian Crown assets into a newly listed entity in a bid to shield the businesses from its under performing counterpart in Macao, Melco Crown Entertainment. “We believe that Crown Resorts’ extremely high quality Australian resorts are not being fully valued and the Crown Resorts share price has been highly correlated to the performance of its investment in Macao,” Rob Rankin, chairman Crown Resorts told the Sydney Morning Herald. Under the ...

The above snippet is the first part of an article sent to subscribers in Travel Daily's issue from 17 Jun 16

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