• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 24 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Crown Royal Commission outcome positive for Star: JP Morgan

Ben Blaschke by Ben Blaschke
Wed 27 Oct 2021 at 05:06
The Star Sydney reopens for high-end gaming, 1,000 staff back to work

The Star Sydney

21
SHARES
516
VIEWS
Print Friendly, PDF & Email

The news that Crown Resorts will be allowed to continue operating its Melbourne casino following release of the findings of Victoria’s Royal Commission on Tuesday is great news for its Australia rival Star Entertainment Group, according to JP Morgan analysts.

The Finkelstein Report delivered arguably the best scenario Crown could have reasonably hoped for when it recommended the company be found unsuitable but allowed to continue operating Crown Melbourne for at least the next two years while working to return to suitability. That outcome drove Crown shares to jump by 8.7% on Tuesday but also saw Star shares climb by 4.6%.

Star is currently facing a regulatory inquiry of its own in New South Wales following similar media allegations aired last month to those that have brought Crown to its knees.

In a note, JP Morgan’s Don Carducci and Michael James said Commissioner Finkelstein’s report means “lots” for Star.

“[Star’s] misconduct is highly unlikely to have been ‘as bad’ as Crown’s, therefore the likelihood of an adverse outcome impacting trading from the NSW public inquiry is low,” they wrote.

“Unfortunately, the timeline to completion (of the Star inquiry) is well into [2022], thus negative sentiment may last for a longer period of time. However, we expect minimal trading impact following today’s announcement.”

Carducci and James have also upgraded Crown to Overweight, noting that the company is still trading at a discount “both historically and in relation to the expected impact from regulatory oversight in the next two years.”

They have set a target price for Crown Shares of AU$15 versus Tuesday’s closing price of AU$10.50.

RelatedPosts

Pitch! lands at iconic Sydney Opera House for Regulating the Game 2026

Pitch! lands at iconic Sydney Opera House for Regulating the Game 2026

Thu 24 Jul 2025 at 14:49
Genting presents New York casino proposal to Community Advisory Committee, described as state’s largest IR

Genting presents New York casino proposal to Community Advisory Committee, described as state’s largest IR

Tue 22 Jul 2025 at 05:21
Victoria to launch trial of mandatory carded play across 43 gaming venues in September

Victoria to launch trial of mandatory carded play across 43 gaming venues in September

Mon 21 Jul 2025 at 13:05
Ainsworth shareholder Kjerulf Ainsworth questions valuation of company property under Novomatic takeover deal

Ainsworth shareholder Kjerulf Ainsworth questions valuation of company property under Novomatic takeover deal

Mon 21 Jul 2025 at 05:41
Load More
Tags: Australiacasino licenseCrown ResortsDonald CarducciJP MorganStar Entertainment Group
Share8Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Philippines IRs see combined GGR fall 10.6% to US$778 million in 2Q25

Philippines IRs see combined GGR fall 10.6% to US$778 million in 2Q25

by Ben Blaschke
Thu 24 Jul 2025 at 17:43

The Philippines’ integrated resorts generated gross gaming revenues of Php93.4 billion (US$1.65 billion) in the first six months of the year, accounting for around 43.4% of the local gaming industry’s GGR according to information from Alejandro Tengco – the Chairman...

Pitch! lands at iconic Sydney Opera House for Regulating the Game 2026

Pitch! lands at iconic Sydney Opera House for Regulating the Game 2026

by Newsdesk
Thu 24 Jul 2025 at 14:49

Pitch! @RTG, the dynamic innovation showcase of the Regulating the Game conference, returns on 10 March 2026 with even more energy, impact and ingenuity - elevating its platform in the breathtaking Yallamundi Rooms at the iconic Sydney Opera House. Designed...

2021: Japan IR – Crunch time part 2

Nomura: Strong VIP volumes at Marina Bay Sands bodes well for Genting Singapore’s own hotel upgrade decision

by Ben Blaschke
Thu 24 Jul 2025 at 14:24

The impressively strong performance of its Singapore rival Marina Bay Sands (MBS) bodes well for Genting Singapore and its decision to invest in hotel room enhancements at Resorts World Sentosa (RWS), according to Nomura analysts. It also suggests that RWS...

Konami’s Gaming & Systems revenue slightly down to US$122 million in six months through September

Konami Gaming granted Gaming-Related Vendor License by UAE regulator

by Newsdesk
Thu 24 Jul 2025 at 14:22

Konami Gaming, Inc has become the 14th industry supplier to be granted a Gaming-Related Vendor License by the UAE’s General Commercial Gaming Regulatory Authority (GCGRA). The license allows Konami to provide the UAE’s developing gaming market with its products and...

Your browser does not support the video tag.


IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語