Crown Takes a $6 Billion Fall

30 October 2008

Crown Ltd., an Australia-based casino operator, has declined in value by $6 billion since last December, The Australian reports.

“Crown's operations are diversified and located across different markets,” said Rowen Craigie, Crown’s chief executive, during an annual shareholder meeting. “This diversification assists in the mitigation of some of the risks associated with economic downturns in particular regions.”

Mr. Craigie added that these markets might see “some dislocation in the next 12 to 18 months.” However, looking at it from a long term perspective, he said that he expects a return of growth in two to three years.