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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Crown Resorts Ltd    CWN   AU000000CWN6

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Crown Resorts : China frees top Crown executive jailed for gambling offences - official

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08/12/2017 | 06:35am EDT
FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia

China on Saturday freed one of the last remaining Crown Resorts Ltd executives jailed for illegally promoting gambling, as a protracted saga that forced the Australian casino operator to cancel global expansion plans and hurt profits nears an end.

Jason O'Connor, head of international VIP gambling with the casino giant, was released before 7 a.m., an official told media outside the detention centre in Shanghai.

The Australian was the most senior of 16 staff detained in October and jailed by a Shanghai court in June. His 10-month sentence ran from the time of his first detention on Oct. 14 last year.

He was flying home following his release on Saturday, Australia's Foreign Minister Julie Bishop said in an emailed statement. She did not give a time for his arrival.

Crown executive chairman John Alexander said in an emailed statement he was "very pleased" staff were being reunited with their families and expressed gratitude for the help provided by the Australian government and the company's legal team over the past few months.

The authorities released 10 employees, including Australian nationals Jerry Xuan and Jane Pan Dan, in July. Crown, half-owned by billionaire James Packer, had been trying to attract wealthy Chinese to its casinos located outside China, where gambling is illegal, except for Macao. But the case prompted Crown, the world's biggest listed casino company outside China, to retreat from global expansion plans and sell off its Macao assets, and instead shift its focus back home.

(Reporting by Xihao Jiang in SHANGHAI, Shu Zhang and Josephine Mason in BEIJING; additional reporting by Ben Cooper in SYDNEY and Brenda Goh in SHANGHAI; writing by Josephine Mason; Editing by Adrian Croft)

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Financials ( AUD)
Sales 2018 3 380 M
EBIT 2018 561 M
Net income 2018 387 M
Debt 2018 807 M
Yield 2018 5,12%
P/E ratio 2018 22,14
P/E ratio 2019 19,96
EV / Sales 2018 2,64x
EV / Sales 2019 2,74x
Capitalization 8 101 M
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Technical analysis trends CROWN RESORTS LTD
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 10
Average target price 12,8  AUD
Spread / Average Target 8,7%
EPS Revisions
Managers
NameTitle
John Henry Alexander Executive Chairman & Chief Executive Officer
Kennneth M. Barton Chief Financial Officer
Rowena Danziger Independent Non-Executive Director
Geoffrey James Dixon Independent Non-Executive Director
Michael Roy Johnston Non-Independent Non-Executive Director
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