Currency woes cast shadow on Australian casino stocks

Article Abstract:

Investment advisers warn that the profitability of Burswood Property Trust and Melbourne's Crown may be questionable since the Asian currency crisis is directly related to the two businesses. Asian gamblers are expected to come in fewer numbers and investment advisers recommend that investors sell their stocks of Crown and Burswood. Advisers are optimistic, though, of other casinos operating in Australia.

Australia, Burswood Property Trust, Crown Ltd. (Australia)

---

Kerry Packer takes a gamble

Article Abstract:

Kerry Packer has announced plans to buy shares of Sydney Harbour Casino Holdings from Showboat Inc. to include in his business ventures. The Australian billionaire will buy the shares through his listed Publishing & Broadcasting Ltd. Under the terms, Packer's company can secure as much as 17% of Showboat's share and up to 85% of Showboat's share in the management company.

Mergers, acquisitions and divestments, Investments, Gambling industry, Packer, Kerry, Publishing and Broadcasting Ltd., Showboat Inc., SBO, Sydney Harbour Casino Proprietary Ltd.

---

Lagging casino sector offers a few winners; restructuring may be in the cards as location hurts some firms

Article Abstract:

The casino sector has underperformed a basket of Australian stocks that excludes banks, insurance and energy companies. The sector has suffered due to weak earnings and speculation over management changes. Among the stocks favored by analysts are Sydney Harbour Casino Holdings Ltd. and Crown Ltd., while Jupiters Ltd. and Reef Casino Trust stocks are among the avoid list.

Similar abstracts:

• Abstracts: A neural network model for scheduling problems. A comparison of neural networks and linear scoring models in the credit union environment
• Abstracts: Prospects appear dim for giants in electronics sector. Yen's surge may create serious problems for economy. Japan's economic slump qualifies as a recession by Western standards
• Abstracts: LPAC to investigate 'need' for tall towers in capital. Gummer calls for a new generation of stately homes. Gummer planning guidance backs architectural quality
• Abstracts: Germany's protective wings. Built in Bavaria: German banking. Can dachshunds be whippets? Banking in Germany
• Abstracts: Legal hurdle. Rude neighbor: spillover of Burmese fighting tests Thailand's patience. Border burdens: insurgent defeat poses problems for Thai army

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.