James Packer’s company Crown Resorts (ASX: CWN) was in the headlines this week after it was revealed that US-based Wynn Resorts (NASDAQ: WYNN) was interested in a takeover. While Wynn are saying they are no longer interested in Crown, it got us here at Equity Mates interested in the Australian gambling industry.
So here is our ‘shallow dive’ into the Australian gambling industry (think deep dive while trying to keep to our 20 min or less episode length).
We plan to do more industry shallow dives in the future, so if you have an industry you want us to talk about hit us up via email, social media or the Ask Us Anything page on our website.
In this episode you will learn about:
- Wynn Resorts takeover offer for Crown Resorts and the reasons it was quickly taken off the table
- Why Wynn’s takeover price was $14.75/share but Crown’s share price only rose to $14.08/share
- A brief history of Australia’s casino industry
- The two major players in the industry and a few of the smaller operators
- What are the growth drivers in the Australian and international casino industry
Stocks and Resources Discussed:
- Wynn Resorts (NASDAQ: WYNN)
- Crown Resorts (ASX: CWN)
- The Star Entertainment Group (ASX: SGR)
- SkyCity Entertainment Group (ASX: SKC)
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