IMHO take the money and sell now. @ 14.00 there's only 0.75 upside and price can fall 3.00 if the deal doesn't go through. Of course it all depends on Packer who holds 46%. You can always hope that this bid attracts other bids (?). Other bidders may have a better chance of FIRB approval.
There's some chance that the FIRB will knock this on the head. CEO of Wynns (close friend of Packer has had his issues in the US). Casino license approvals can take months as there's many investigations to complete (est 6 mths min). If this does get all the approvals, you end up with Wynns US shares. The palfrey divs are in US dollars and may cost just as much to convert to AUD.
I have had Crown shares since Pbl > CPH > Nine Network >FXF > Bond Media ... oh cripes where did i get them from.....????
The main thing I know is that for the last 20 years I have gotten a check for $19.06 (or thereabouts) every six months. and thats it !!!
if there was any advantage in holding them its been to get priority for the Bonds issues.
the biggest advantage is being a Packer and changeing the company every few years..
https://www.sbs.com.au/news/crown-resorts-becomes-10b-takeover-target
CWN up 20% to $14.10 following the news. I suspect this deal may go ahead, although I'm not sure how happy CWN shareholders will be about it.
IMHO take the money and sell now. @ 14.00 there's only 0.75 upside and price can fall 3.00 if the deal doesn't go through. Of course it all depends on Packer who holds 46%. You can always hope that this bid attracts other bids (?). Other bidders may have a better chance of FIRB approval.
There's some chance that the FIRB will knock this on the head. CEO of Wynns (close friend of Packer has had his issues in the US). Casino license approvals can take months as there's many investigations to complete (est 6 mths min). If this does get all the approvals, you end up with Wynns US shares. The palfrey divs are in US dollars and may cost just as much to convert to AUD.
Wynn have terminated discussions. Suspect down she goes!
And is hugely populated with the MOST vulnerable, people over 60. I was very surprised to read this and thought the same could be done in the sporting grandstands.I am so surprised at health authorities allowing Crown and similar large poker venues to stay open. On a simple practical point, people are touching the same buttons on machines all the time. That is likely to be a significant vector to transfer viruses.
Also the distances between people to mimimise transmission of the disease are as follows
Close contact
A close contact is someone who has been face to face for at least 15 minutes, or been in the same closed space for at least 2 hours, as someone who has tested positive for the COVID-19 when that person was infectious.
I would have thought the risks of a large number of people playing the pokies in the same room would be obvious.
https://www.health.nsw.gov.au/Infectious/factsheets/Pages/novel-coronavirus-close-contact.aspx
and the SP is going to keep going up?
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