How you can stuff up so badly when you operate a casino -- something that enjoys favourable and mathematically guaranteed odds, and that enjoys a potent regulatory moat -- is beyond me. As it turns out, even when you (allegedly) break the law, you still can't deliver decent returns to shareholders.

Even at the revenue line, they made less this year than they did 10 years ago. The huge loss at the bottom line was due to a whopping $1.4b writedown, which always gets waved away as "non-cash" but simply means they massively overpaid for major assets (and represents a very real loss when looked at holistically)

At least a lot of vulnerable "gaming" addicts were exploited along the way, eh? :(