Charlie Aitken, Bell Potter - Structurally bullish on Asian inbound tourism to Australia
Charlie Aitken, Bell Potter - Structurally bullish on Asian inbound tourism to Australia. The NSW Government recently released data showing a 20% increase in the number of visitors from China. However, Sydney's 5-star accommodation has aged considerably and does not meet the needs of The Asian Century. Inbound tourism must be one of the core pillars of the post-mining boom economy. As such, legislators will likely come to this view and approve Crown's VIP only Sydney casino license. Crown,on 15x FY14 offering +25% EPS growth, remains a high conviction buy with aprice target is $15.00 for Mr Aitken.