Opportunistic Crown bidders will stumble: JP Morgan

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Opportunistic bidders hoping to capitalize on fears that Crown won’t be granted a NSW license may have to reassess what they’ve put on the table, following an ILGA announcement that Crown would be on track to open its Sydney casino operations by October. 

On Thursday, it was revealed following an ILGA announcement that Crown would be on track to open its Sydney casino within a few months, acknowledging a vast number of reforms that the company has taken to become a suitable holder of a Sydney license. 

“Today’s announcement was no surprise, but it did remove the discount bidders applied on fears ILGA would never grant a NSW license,” said JP Morgan in a note on Thursday.