Bernstein: Melco Will Pass Crown Checks

Melco Resorts & Entertainment is likely to pass muster with Australian gaming regulators as it seeks to buy a 19.99 percent stake in Crown Resorts, despite recent reports that raised concerns about Melco’s probity because former SJM Chairman Stanley Ho (l.) is the father of Melco’s Lawrence Ho. The acquisition could be the first step toward full ownership of Crown by Melco, say analysts at brokerage Sanford C Bernstein.