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Crown Resorts shares soar on Melco Crown spin-off plan

16th June 2016 7:45 am GMT

Australian casino operator Crown Resorts has proposed a number of structural and capital management initiatives to enhance value for its shareholders, including a spin-off of its international operations.

Crown Resorts, majority owned by Australian billionaire James Packer, will pursue a demerger of certain international investments to create a separately listed holding company (InternationalCo), including its 27.4 per cent interest in Macau-based operator Melco Crown Entertainment (MCE).

Crown Resorts' chairman Robert Rankin said: [...]

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