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Company News
Game on at Crown Sydney, Medibank offering customers $620 cashback and Telstra Energy unveiled
Crown Resorts (ASX: CWN) has announced the Independent Liquor and Gaming Authority (ILGA) in New South Wales has finally given Crown Sydney the green light to recommence its gaming operations. The approval comes 16 months after Crown Sydney was deemed unfit to hold a gaming licence. Crown’s gaming operations in Sydney will now open members […]
Rusal takes legal action against Rio Tinto, Santos meets resistance over gas project and Crown on verge of Sydney launch
Russian company Rusal has taken legal action against Rio Tinto (ASX: RIO) to take back access to its share of alumina produced under a joint venture at a Queensland refinery. Rio Tinto owns 80% of Queensland Alumina Limited (QAL) in Gladstone, and Rusal the other 20%. Rusal’s lawsuit challenges the wide-ranging sanctions the Australian Government […]
ESG friendly versus sinful stocks: which ones perform the best?
In a new era in which environmental, social and governance (ESG) considerations have been enshrined in the way fundies pick their shares, the so-called ‘sin’ stocks had been largely discounted as relics of the past. Until Woolworths’ spin-off Endeavour Group (ASX: EDV) came along, that is. By virtue of Endeavour’s sheer size and pure-play focus […]
$8 billion opportunity knocks at Crown Resorts
Sometimes opportunity only knocks once so there is no surprise that private equity giant Blackstone has pounced on troubled casino giant Crown Resorts (ASX: CWN) with a highly conditional $8 billion takeover bid. While there is no guarantee that Blackstone will succeed, its move puts the casino group firmly into play due to a series of related […]
The ASX companies that live or die with the stroke of a regulatory pen
Deep in any corporate vault lies a piece of paper or two that affirms the right of an enterprise to operate, such as articles of incorporation, a banking or broadcasting licence or a mining permit. Apart from diligent company secretaries, no-one else will give the paperwork a second thought. But when this right to operate […]
Can these fallen blue chip stocks rise twice?
The ASX is replete with hugely successful companies that not long ago were small caps, such as Afterpay (ASX: APT) and Fortescue Metals Group (ASX: FMG). Sadly, there’s also the reverse: famous name blue chips that have fallen out of favour and have been unable to participate in the virile market recovery. Takeover raiders have […]
Crown shares hit as AUSTRAC bites
Investors have been here before and they knew what to do as soon as regulator AUSTRAC was investigating Crown Casino in Melbourne. Sell first and ask questions later is the only logical reaction as soon as one of Australia’s smallest but most feisty regulators in the form of AUSTRAC gets involved. It is hard to […]
Crown Resorts enforces social distancing at Melbourne casino in light of coronavirus outbreak
Crown Resorts (ASX: CWN) has announced social distancing measures being implemented at its Crown Melbourne casino complex in response to the coronavirus pandemic. From today, the James Packer-backed gaming giant will deactivate every second gaming machine and electronic table game. It will also enforce distancing at seated table games including no standing players, while stand-up […]
James Packer puts up the ‘for sale’ sign on Crown Resorts
It may not be exactly the scenario he envisaged but James Packer has now effectively put a “for sale’’ sign on his major stake in Crown Resorts (ASX: CWN) and the company in general. The collapse of the A$10 billion proposed bid by US gaming giant Wynn Resorts is certainly not an ideal situation given […]