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Karen Maley

Crown’s investors double down on their bets

The gaming giant committed a big tactical blunder in not appointing a new chairman earlier because it undermines the credibility of its commitment to reform.

Patrons of Crown Resorts, it seems, aren’t the only people fond of placing risky bets. The 8 per cent surge in the share price of the embattled casino giant over the past fortnight suggests investors also enjoy a flutter.

Crown’s share price has jumped from $8.61 at the end of July to $9.31 at the end of last week on growing optimism that royal commissioner Ray Finkelstein, QC, will allow the crisis-prone company to retain its Melbourne casino licence.

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Jill Margo was a senior writer at The Australian Financial Review.

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    Original URL: https://www.afr.com/companies/games-and-wagering/crown-s-investors-doubling-down-on-their-bets-20210815-p58ius