Things go from bad to worse at Star
The second Star inquiry in Sydney has gone from bad to worse, to what the heck, after it was halted on Wednesday, Day 3 of the first week of the new probe.
Read MoreThe second Star inquiry in Sydney has gone from bad to worse, to what the heck, after it was halted on Wednesday, Day 3 of the first week of the new probe.
Read MoreNo wonder shares in Star Entertainment Group (ASX:SGR) lost another 14% on Tuesday, following further damning disclosures during the second day of the inquiry into the company’s culture and fitness to hold a license for the Star Casino in Sydney.
Read MoreAt the close on Monday, the near 4% fall in the price of Star Entertainment Group shares ended up being a positive outcome on a day when yet more incredible and highly damaging news emerged from the second NSW Government inquiry into the casino.
Read MoreStar Group's abrupt CEO and top executives depart amidst regulatory pressures, causing market turbulence and speculation.
Read MoreThe embattled Sydney-based casino operator, Star (ASX:SGR), has successfully convinced investors to contribute hundreds of millions of dollars for the second time this year, in a desperate attempt to keep the business afloat.
Read MoreEmbattled casino group, Star Entertainment (ASX:SGR), has posted a staggering loss of $2.4 billion for the fiscal year ending on June 30, primarily due to substantial write-downs in the value of its casinos exceeding $2 billion.
Read MoreShares in casino operator Star slid nearly 12% at one stage yesterday after revealing a sharp worsening in its business, a review of the Sydney operation and 500 full time positions being cut.
Read MoreCasino operator Star Entertainment Group has secured its $800 million lifeline which will allow it to continue trading into the upcoming NSW State Election and, hopefully, beyond.
Read MoreThe (no) fun and games at Star continue, with the regulators still riding them like an inside straight and all sorts of intrigues popping up on their shareholder register.
Read MoreCasino operator Star Entertainment Group is looking to raise $800m in new equity in what is effectively a bailout after revealing a massive $1.3b loss for the six months to December.
Read MoreThe dispassionate investor or analyst would be concerned at the adverse market reaction yesterday to the interim trading update from embattled casino group Star Entertainment.
Read MoreASIC has launched proceedings against 11 current and former Star executives over alleged breaches of anti-money laundering protocols at the company’s casinos.
Read MoreInvestors did their best to ignore news yesterday that Star Entertainment is being sued by financial regulator AUSTRAC over claimed breaches of money laundering laws.
Read MoreThe NSW casino regulator on Monday confirmed it had suspended the gaming licence of Star Entertainment’s Sydney casino and hit it with a record $100 million fine.
Read MoreShares in Star Entertainment Group rose more than 4% yesterday after investors expressed relief that the company had seemingly retained the licence to run its Sydney casino.
Read MoreShares in Tyro Payments touched new all-time lows yesterday after losing CEO Robbie Cooke to the toughest job currently in Australian business: cleaning up Star casino group.
Read MoreThe broker reinitiates with a Neutral rating and a target price of $2.95.
Read MoreLots going on around the traps to kick the week off, and here is the latest news from Star Entertainment Group, Carnarvon Energy and financial sector stalwart AMP Limited.
Read MoreShareholders 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.
Read MoreInvestors 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 MoreWith 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 MoreCrown 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 MoreIt 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 MoreNeutral retained. Target is raised to $4.00 from $3.85.
Read MoreIs 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 MoreMacquarie reassesses the Sydney domestic tables market, given the completion of Sovereign Resort and competition from Crown Sydney ((CWN)) in early 2021.
Read MoreStar 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 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 MoreMajor 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 MoreWith 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 MoreThe 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 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 MoreA weak trading update from The Star Entertainment has sent brokers scurrying to review earnings estimates and the outlook for the domestic gambling sector.
Read MoreStar 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 MoreDeutsche 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 MoreDeutsche 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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