Star-Crossed Yet Again as Dividend Withheld
Shareholders in casino operator Star Entertainment Group will again go without while the company continues to trade with its financiers, with the 2021-22 interim dividend withheld.
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Twinkle, Twinkle, Naughty Star
Investors punished Star Entertainment Group in particular yesterday, but didn’t miss other casino groups after media reports about alleged misconduct surfaced over the past couple of days.
Read MoreProfit Briefs: TWE, SGR
With peak reporting season upon us, here are snippets from the results announced yesterday by winemaker Treasury Wine Estates and casino owner-operator Star Entertainment.
Read MoreStar Folds on Crown Deal
Crown Resorts and its biggest shareholder James Packer face growing uncertainty about its future value, with rival casino group Star Entertainment dropping its $12 billion deal.
Read MoreTrouble Afoot for Three Casinos and a Big Bank
It was a very busy Monday for AUSTRAC, the country’s main financial intelligence group, which has launched separate investigations into four ASX-listed companies.
Read MoreSGR – Credit Suisse rates the stock as Neutral
Neutral retained. Target is raised to $4.00 from $3.85.
Read MoreVegas Fallout Rings Warning Bell For Local Casino Operators
Is this the tocsin bell that sounds a warning to Australian casino operators like the embattled Crown Resorts, Star Group, Sky of New Zealand, and a couple of small players such as Lasseters and Federal Hotels?
Read MoreSGR – Macquarie rates the stock as Outperform
Macquarie reassesses the Sydney domestic tables market, given the completion of Sovereign Resort and competition from Crown Sydney ((CWN)) in early 2021.
Read MoreSGR – 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.
Read MoreVirgin Extends Halt While Crown, Bapcor & Star Tap Investors
Virgin Australia has stepped up its money finding efforts, asking for trading in its shares to be suspended as it works on a restructuring plan and awaits any news from Canberra about a $1.4 billion bailout package from the Federal Government.
Read MoreMosaic & Star Stand Down Staff, Wesfarmers Shutters Kmart NZ
Major women’s fashionwear retailer Mosaic Brands has become the latest chain operator to shut stores and stand down staff indefinitely. Casino operator, Star Group has also stood down around 90% of its staff of 9,000 while Wesfarmers has shut its Kmart stores in New Zealand as the coronavirus outbreak continues to escalate.
Read MoreDo Less Risky Stock Market Exposures Really Exist?
With a sense of raw panic descending on global stock markets, the question is whether there are any truly safe havens in terms of remaining exposed to equities?
Read MoreSGR – Morgans rates the stock as Upgrade to Add from Hold
The trading update was ahead of expectations. The company is forecasting first-half operating earnings of $300-310m on the back of domestic revenue growth and cost reductions.
Read MoreStar Group Steadies After Heavy Sell-Off
Star Entertainment Group shares recovered some of Tuesday’s big slide in the wake of the Sydney based gambling group surprise downgrade in its 2018-19 earnings forecasts.
Read MoreConfidence Dims For The Star
A weak trading update from The Star Entertainment has sent brokers scurrying to review earnings estimates and the outlook for the domestic gambling sector.
Read MoreHigh Rollers Bypass Fading Star
Star Entertainment Group shares fell more than 18% at one stage yesterday after the Sydney based gambling group surprised with a small downgrade in its 2018-19 earnings forecasts.
Read MoreSGR – Deutsche Bank rates the stock as Buy
Deutsche Bank notes Star Entertainment has been shortlisted for the Cairns global tourism hub. Proposals are to be lodged by July with a decision to be made late in 2019 or early 2020.
Read MoreSGR – Deutsche Bank rates the stock as Buy
Deutsche Bank considers the Queensland government’s call for registrations of interest to develop a global tourism hub on the Gold Coast a minor negative for Star Entertainment.
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