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…
-
General16 hours agoVictorian school teacher charged with soliciting child abuse material
-
Business23 hours agoHere’s what analysts expect for the BHP share price in the coming year
-
General7 hours agoAustralia loses ODI series to South Africa with defeat in second game in Mackay
-
General24 hours agoPatients speak out after Brisbane doctor accused of ‘excessive’ pap smears, kissing woman on lips