Crown (CWN)

Shares / Stock Code

CWN

Stock Exchange / Sharemarket

ax

Crown (CWN) is one of the Australia's leading entertainment groups. The Company has its businesses and investments in major international markets. Crown listed on the ASX on 3rd of December, 2007. Crown Entertainment Complex in Melbourne and Burswood Entertainment Complex in Perth are two of Australia’s leading gaming and entertainment complexes that are wholly owned and operated by Crown. The Crown Entertainment Complex has 2,500 electronic gaming machines and 350 table games. It has two hotels with 947 rooms, comprising 31 luxury villas. The Burswood Entertainment Complex consists of 1,750 electronic machines and 170 table games. The complex has two international hotels, convention centre and 21,000 seats Burswood Dome. Crown holds a 41.4% share in Melco PBL Entertainment (Macau) Limited, 50% interest in the Aspinalls business in the United Kingdom and a 19.6% share in Fontainebleau Equity Holdings LLC in the United States. CWN also owns 37.5% interest in LVTI LLC and 50% interest in Betfair Australasia Pty Ltd. Melco Crown Entertainment (Macau) Limited is a joint venture developing casino/hotel properties in Macau while Aspinall Holdings is a premium casino business operating in the United Kingdom.

In December 2007, the Company announced a transaction to get hold of Cannery Casino Resorts (CCR) which operates four casinos in Nevada and Western Pennsylvania in the USA providing services to local and regional clientele. This transaction is likely to close late 2008, subject to regulatory approval.

Crown demerged from PBL and is intended to become a global provider of gaming services. The Company’s distinguishing factor is its geographical distribution of the assets at both local and international levels.

Crown History

CWN was established as a result of the demerger of the PBL business. It commenced its gaming investments by purchasing $1.8B of Crown Casino in 1999, followed by the acquirement of Burswood Casino in 2004. The company then entered into principal gaming markets like Las Vegas and Macau.