Only down 3% odd. must have been baked in?
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Surely the fine will be all the profit gained plus a penalty. Crown made $1.1bil from its breaches. Analysts have pegged the fine for Adelaide at $50m but that seems way light. Given the debt covenant breaches and waiver forbids new debt issuance SKC is in a pickle. I am going to stab in the dark at a fine NZD$250m, Westpac got a A$1.1B fine. A $250m fine is 12% of market cap, $50m priced in so another 7% to fall.
Really SKC should detail how many breach events(up to A$22m fine per breach) and of what nature and profit gained. Otherwise the market is blind and has to throw the dart like I have.
whats wrong with gambling? for the majority its fine.
wouldnt want the minority to kill it for the rest of us. well guess thats how the world works
lots of punters buying SKC. Might even finish up for the day!