Good evening,

Crown Resorts is the corporate story of the week and while there’s plenty to play out before we know what’ll happen to the group’s NSW licence, Thursday gave us all an insight into some of the options on the table.

Major shareholder James Packer, at the end of day three in front of the inquiry, said he thought there should not be special provisions for Crown’s major shareholders in future, and told the commission that ‘‘caps on shareholding may be something you’ll think about’’.

If it plays out that way, Packer’s CPH may need to find a buyer for at least part of its stake. We’ve heard at length in the past week or so the number of parties Crown has been shopped to in recent years, although it appears that might be only the beginning.

Of course, the quickest way to sell could be via a block trade to equity investors – and equities desks are sure to be pursuing that potential angle in the coming months.

Elsewhere, we look at which $2 billion-plus tech star caught KKR & Co’s eye, and reveal Warrego Energy’s equity-raising plans.

Happy reading,

Sarah Thompson, Anthony Macdonald and Tim Boyd
Street Talk Editors