The Star Entertainment Group Limited (SGR)
All research reports and stock updates for The Star Entertainment Group Limited.
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Getting off the canvas
FY23 result. SGR’s full year result was above its emaciated guidance range in a market characterised by weak demand and rising costs, for which SGR dug out part of its planned $100m per annum target.
Darkest before dawn
Star Entertainment has quickly moved to repair its balance sheet with the announcement of an $800m capital raising.
Star in low orbit
Rising costs due to the Bell and Gotterson reviews, together with the prospect of higher NSW casino tax rates and competition from Crown Sydney has put another big dent into Star Entertainment’s earnings.
NICC'd
NSW’s newly minted casino regulator has gone as far as it dared by suspending Star Entertainment’s NSW casino licence and placing the casino under the supervision of a special manager for at least 90 days, but probably much longer.
Mea culpa
Star Entertainment Group has responded to the Bell Report with a practical account for its own remediation.
Bell-ringer
Star Entertainment is likely to follow the same path of contrition and repentance as Crown Resorts, in order to retain its NSW casino license.
Waiting on fun police
Star Entertainment Group remains in the naughty corner until the regulatory inquiries are complete and the consequences known. SGR has wisely not wasted any time to instigate its own rehabilitation ideas.
After the Bell
An eloquence of lawyers has enveloped Australia’s casino industry for the better part of two years. That run is set to be extended as the Queensland Government echoes the inquiries conducted in NSW, Victoria and Western Australia into both Star Entertainment and Crown Resorts.
Clearing clouds in FY23
SGR investment case remains challenged and in the ‘too hard’ basket for most investors at present.
We've seen this movie
We have seen this movie before, only the bad guy was Crown Resorts. The sequel features Star Entertainment as the Bell Review continues its prodding and probing at the NSW ILGA inquiry.
Not Crown
COVID and its associated government restrictions wrecked Star Entertainment’s first half result, but the recovery is on its way and should be brisk.
Looking beyond FY22 black hole
Star Entertainment’s earnings update merely puts a set of numbers on what was already understood to be a dismal year financially. Government mandated casino closures due to COVID-19 have punched a large hole in SGR’s earnings this year, but normality beckons and so too does a more familiar earnings profile.