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CWN, CROWN LIMITED
plastic
post Posted: Feb 9 2021, 07:00 PM
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Vegas in the sixties and seventies.

Packer a Michael Corleone in part two.

Sheriff gonna clean up this town.



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What did Uncle Mel do to us?
 
mullokintyre
post Posted: Apr 17 2020, 09:55 AM
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Agh, the ethics involved with gambling institutions.
From The OZ

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Crown Resorts will push ahead with the payment of a $205m interim dividend to investors, including about $70m to major shareholder James Packer, despite standing down 11,500 employees and registering for the federal government’s JobKeeper payment scheme.

Rival The Star Entertainment Group also said on Thursday that 8500 of its staff were being stood down, meaning the two casino giants have stood down a combined 20,000 employees.

The move means about 95 per cent of the respective workforces of the gambling and hotel resort company’s are out of work.

Crown is going ahead with its dividend given it has already been declared, its shares have traded ex-dividend and a new $1bn in debt refinancing gave it a relatively strong balance sheet that will include about $300m in cash after the 30c-per-share dividend is paid on Friday.

Crown also said 1300 people remained on the construction site at Barangaroo in Sydney, working to complete the $2.2bn Crown Sydney casino and luxury hotel development by the original target of the end of the year, despite some recent temporary stoppages after some workers tested positive for the coronavirus.

Both companies also revealed pay cuts for senior executives and board members, though The Star went further than Crown, which said chief executive Ken Barton would take a 20 per cent pay cut at least until the end of June as part of a raft of measures in response to the COVID-19 pandemic.


Mick



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sent from my Olivetti Typewriter.
 
blacksheep
post Posted: Aug 24 2019, 11:32 AM
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In Reply To: blacksheep's post @ Aug 8 2019, 07:20 PM

OPINION - Elizabeth Knight
Insider selling: When executives sell shares, they better have a good reason
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There is really no successful way to spin the news that a company's senior executives or directors have sold some of their shares.


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The case of Kogan aside, research released last year by stockbroker Wilsons found that there was a correlation between insider sales and market underperformance.

Two of Australia’s largest insider sales are worth looking at in this context.

The first is James Packer’s sale of 19.9 per cent of Crown Casino at the end of May. Mr Packer may not be technically be classed as an insider because he was not on the board when the agreement to sell shares was made.

But given he was previously a director and (even after the sale is completed) remains the largest shareholder, he will be viewed as someone with a clear understanding of the business.

He agreed to sell his stock for $13 a share - a slight discount to the prevailing price.

Since then the share price has bounced around but is currently sitting much lower at $11.74.

Several factors have pushed the Crown share price around. An investigation undertaken by Nine Entertainment pointing to links between junket operators used by Crown and organised crime sent the casino group’s share price down. And it took another leg down when gaming regulators announced investigations into Crown operations.

More recently Crown released a disappointing earnings result - showing VIP turnover had fallen 26 per cent in the 2019 financial year.

There were clear signs of weakness in VIP revenue before Mr Packer sold down. In the half year earnings to December, which were reported in February VIP turnover was down 12 per cent.

Thus Crown’s share price fall since Mr Packer’s sell down fits neatly with correlation between market underperformance and insider selling.

https://www.theage.com.au/business/companie...823-p52k4z.html



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 21 2019, 10:48 PM
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In Reply To: blacksheep's post @ Aug 19 2019, 10:42 PM

Crown profit slumps 28pc as high rollers leave the table
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Key points:
Crown's VIP gambling revenue fell by 26pc as high rollers abandoned gaming rooms in Melbourne, Perth and London
Crown chief John Alexander said "subdued business conditions" were to blame
Mr Alexander complained that allegations relating to criminal activity and international money laundering "overshadowed" Crown's contribution to the economy


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Crown shares were 1.2 per cent higher at $11.56 by 2:20pm (AEST) in a generally falling market, having seen its market value fall around 10 per cent since the Nine Newspapers allegations were aired.

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 19 2019, 10:42 PM
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In Reply To: blacksheep's post @ Aug 8 2019, 07:20 PM

Some good news for the embattled casino operators - they've been doing it tough lately sadsmiley02.gif

Berejiklian delivers on a jackpot day for Sydney casinos
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Sydney’s two casino giants have hit the jackpot after the Berejiklian government dropped a legal case that threatened Crown Resort’s interests at Barangaroo, and the Premier intervened personally in support of an apartment and hotel tower at The Star casino in Pyrmont.

But Gladys Berejiklian's incursion into the debate about The Star’s proposed $500 million tower has exposed her to criticism that she risks undermining the credibility of the state’s planning system.

https://www.smh.com.au/national/nsw/berejik...819-p52imz.html
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 8 2019, 07:20 PM
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In Reply To: blacksheep's post @ Aug 6 2019, 10:16 AM

NSW watchdog to probe sale of Packer's Crown stake
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Billionaire James Packer’s sale of $1.76 billion of shares in Crown Resorts to Hong Kong gambling tycoon Lawrence Ho is under a cloud as the New South Wales gambling watchdog launches an independent probity investigation that will examine the casino giant’s links to Chinese criminals.

On Thursday night, the state's Independent Liquor and Gaming Authority announced it had served Crown with compulsory orders seeking documents and information and had appointed former Supreme Court judge Patricia Bergin SC to conduct the inquiry.

The inquiry will be conducted in public.


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If an adverse finding is made against Crown, or Mr Ho, it could have serious consequences for the company. It's highly unlikely that, under those circumstances, the sale of Mr Packer's shares could be allowed to proceed, even if other state jurisdictions were happy for the sale to go ahead.

read more - https://theworldnews.net/au-news/nsw-watchd...r-s-crown-stake
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Aug 6 2019, 10:16 AM
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In Reply To: blacksheep's post @ Jul 31 2019, 07:51 PM

More allegations today - Crown investment companies were used to launder drug funds, authorities believe

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Drug traffickers have used two private companies which were set up by Crown Resorts with Crown executives as directors to bank suspected proceeds of crime, federal investigations have alleged.

Investigators traced money from a number of suspected or convicted drug traffickers and money launderers flowing into the bank accounts of the two companies, Southbank Investments Pty Ltd and Riverbank Investments Pty Ltd, between 2012 and 2016, according to former officials.

In 2013, global bank HSBC shut down bank accounts linked to Riverbank and Southbank at a time it was shedding high-risk bank accounts around the globe because it had been caught by US authorities washing drug money for Mexican cartels. The Crown companies opened Commonwealth Bank accounts instead.


Read more - https://www.theage.com.au/business/companie...805-p52e1u.html



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 31 2019, 07:51 PM
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In Reply To: blacksheep's post @ Jul 30 2019, 02:13 PM

The Herald, Age and 60 Minutes respond to Crown Resorts
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In an advertisement submitted for publication to media organisations on Wednesday, the board of Crown Resorts sought to set “the record straight in the face of a deceitful campaign against Crown”.

The Age and Sydney Morning Herald declined to run the advertisement. A response to Crown's claims is included below.

https://www.theage.com.au/business/companie...731-p52cob.html

Crime agency reveals a major investigation into organised crime at casinos
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Australia’s peak criminal intelligence agency has announced a sweeping investigation into organised crime in Australian casinos amid revelations about Crown Resorts' dealings with junket operators with links to suspected Chinese crime bosses and foreign influence agents.

The Chief of the Australian Criminal Intelligence Agency, Michael Phelan, told The Age and Sydney Morning Herald on Wednesday that investigators across state and federal police and intelligence agencies have uncovered damning “insights into vulnerabilities ... within casinos located in Australia”.

Mr Phelan announced that his inquiry, known as the Targeting Criminal Wealth special investigation is probing the operation of agents known as junkets who are responsible for bringing high roller clients into casinos, usually from offshore, to gamble.

https://www.theage.com.au/business/companie...731-p52cnp.html
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 30 2019, 02:13 PM
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In Reply To: blacksheep's post @ Jul 30 2019, 12:32 PM

Christian Porter has referred allegations to Australian Commission for Law Enforcement and Integrity - no politicians who may have acted unlawfully will however be investigated. rolleyes.gif

Nonetheless, CWN's shares have responded to this news - down 2.61% @ $11.94 currently. Daily chart shows the drop when the market became aware of the investigation
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 30 2019, 12:32 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Jul 28 2019, 10:38 PM

Jacqui Lambie joins Andrew Wilkie in calling for parliamentary inquiry into Crown
https://www.theage.com.au/politics/federal/...729-p52brd.html

Wilkie is addressing parliament as we speak calling for this inquiry to happen



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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