SGR – Credit Suisse rates the stock as Outperform

Star Entertainment has reached agreement with the NSW government to set the casino tax rates and create certainty around the regulatory framework for the period FY22-41.

Star Entertainment must remain the sole casino with slot machines in NSW for this period, unless otherwise compensated. Credit Suisse suggests this is positive for the company’s earnings. Outperform rating and $3.75 target maintained.

Sector: Consumer Services.

Target price is $3.75.Current Price is $3.07. Difference: $0.68 – (brackets indicate current price is over target). If SGR meets the Credit Suisse target it will return approximately 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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