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CWNHB - Crown Resorts News Story

A$92.6 0.2  0.2%

Last Trade - 7:10am

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £3.44bn
Enterprise Value £3.91bn
Revenue £1.24bn
Position in Universe 85th / 1829

UPDATE 1-Australia's Crown Resorts says in talks over its holding in CrownBet

Fri 24th November, 2017 1:59am
(Adds report by the Australian newspaper) 
    Nov 24 (Reuters) - Australian casino operator Crown Resorts 
Ltd  CWN.AX  said on Friday it is in discussions about its 62 
percent holding in CrownBet, its online betting unit. 
    Crown Resorts' statement followed a report in The Australian 
newspaper that CrownBet and its rival William Hill  WMH.L  are 
believed to have held in-depth talks on a potential deal. 
    It was not clear from the report whether Crown Resorts was 
looking to sell some or all of its holding in CrownBet or reach 
some other sort of deal. 
    Crown Resorts also said in its statement that there was no 
certainty about whether any transaction will eventuate. 
    Any talks between CrownBet and William Hill would follow a 
planned $4.7 billion takeover of lottery owner Tatts Group 
 TTS.AX  by horse race betting giant Tabcorp Holding 
 TAH.AX . urn:newsml:reuters.com:*:nL3N1NN064 
    Shares of the Crown Resorts were down 1.8 percent compared 
with a 0.4 percent decline for the benchmark index  .AXJO .  
 
 (Reporting by Chandini Monnappa in Bengaluru; Additional 
reporting by Aditya Soni; Editing by Stephen Coates and Edwina 
Gibbs) 
 ((chandini.m@thomsonreuters.com;)) 
 
Keywords: CROWN RESORTS M&A/
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