Crown Resorts: Result 2016

Macau may be bottoming while Crown's Australian resorts continue to pump out cash.

Always good for a quote, Steve Wynn, whose Wynn Resorts owns casinos in the US and Macau, didn’t disappoint on his company’s latest earnings call. Responding to a question, he noted: ‘I tend to be a longer-range looker at these things than quarter-to-quarter’.

We couldn’t have said it better ourselves. Long-range thinking – ignoring the next quarter (or year) and instead looking three to five years ahead at a minimum – underlies all of our Buy recommendations.

Macau may be bottoming

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