Crown Resorts remains "in play" for a takeover bid by other casino operators despite the collapse of buyout talks with Las Vegas-based Wynn Resorts, according to gaming industry insiders.
Gaming insiders and analysts believe Wynn Resorts might still return to the table, suggesting that ownership of Australian casinos on the doorstep of Asia remained a compelling prospect for the business while US-China trade tensions persisted and uncertainty surrounded the renewal of its Macau casino licences in 2022.
Among the most likely "interested parties", according to Deutsche Bank, are Malaysia's Genting Group and private equity firms.In order for a takeover deal to stack up, Macquarie analysts said it would need to be supported by merger-related savings and increased volumes of international high-rollers being redirected from Asia into Australia.
Crown shares, which had soared nearly 20 per cent on news of the takeover talks on Tuesday, fell back down by 9.1 per cent on Wednesday to end the day trading at $12.77, indicating some market participants consider a Crown merger or acquisition possible outcomes.
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