Portfolio Manager Kevin Bertoli tells the Financial Review that the suggested acquisition of Crown Resorts by Wynn Resorts may have been considered as a defensive or opportunistic move.
"They do have great assets, always best of class, so one of the things people have been waiting for is to get through the uncertainty of the Boston licence," Mr Bertoli said. "Once that overhang is removed, they become a target for others, and this may have a been a slightly defensive strategy – make yourself bigger."
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