Is Crown Resorts moving back in the sights of Wynn, the US casino’s group? Wynn revealed Friday US time that it is looking to sell its nearly competed $US2.6 billion casino in outside of Boston to rival casino operator, MGM Resorts International.
Deutsche Bank does not believe that Wynn Resorts will walk away from its Crown Resorts bid indefinitely. The broker remains of a view that Crown is in play with its major shareholder willing at an appropriate price.
It had been a while since Citi analysts had published another update on Crown Resorts. Today’s update consists of minor adjustments to forecasts, but they have an impact on overall valuation with the price target moving to $14.50 from $13.75 prior.