Business
Crown Resorts (ASX:CWN) share price is up 6% despite Fitch downgrade
The Crown Resorts Ltd (ASX: CWN) share price is trading higher today despite receiving a downgrade by ratings agency Fitch Ratings. Fitch has placed Crown Resorts’ BBB rating on ‘rating watch negative’, after the NSW gaming authority delayed the December opening of Crown’s Sydney casino until February 2021.
However, the Crown Resorts share price was up 5.93% at $10.19 in closing trade. Could shares in the company be buoyed by the opening of its Melbourne casino today?
Why Crown Resorts has been downgraded
Fitch Ratings said the downgrade reflected its opinion that the Sydney opening ban highlighted an “increased risk” of severe regulatory action being taken by the Independent Liquor and Gaming Authority (ILGA). The…
-
Noosa News8 hours agoWoman dead and man rushed to hospital with gunshot wound following crash near Aussie World on Queensland’s Sunshine Coast
-
General14 hours agoBoy dies after being trapped between rocks off NSW beach
-
Noosa News15 hours agoFarmer Fred Perry’s 30-year conservation project creates bird haven after years of ‘bashing and burning’
-
Noosa News15 hours agoDetectives continue to search for answers on Crystal Beale’s death