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Opinion
David Fickling

Crown’s Punishment May Be the Best Thing for It

Australia’s disgraced casino operator can improve its business by coming clean through a government-enforced detox.

A two-year chance to clean up and get back on its feet.

A two-year chance to clean up and get back on its feet.

Photographer: Bloomberg

You might think that a government report declaring the conduct of a major casino as “illegal, dishonest, unethical and exploitative” and “in a word, disgraceful” would be bad news for shareholders in the business. Judging by the jump of as much as 13% on Tuesday in shares of Crown Resorts Ltd., it’s anything but. 

That’s not as surprising as it may seem. After all, the main problem for Crown after an official inquiry by Australia’s Victoria state found evidence of money laundering, exploitation of problem gamblers, and misleading of regulators at its Melbourne casino was the seemingly indelible stain on its reputation.