Its all in the news, check out the AFR (not something I just made up)..... agree it only owes about $350 at the moment but its the future cashflows and debt financing they need to lock down, construction costs up a lot generally, Queens Wharf needs to be completed, will likely be a cost blow out / another delay and casino takings will be lower than modelled originally with new casino duty rates in NSW/QLD and recession on the way etc..... someone has to finance all of that
Do you think the media is lying when the say special situations funds are getting involved?
I've been keen for an entry price for a while but if these funds are getting involved I think there more drama to come yet....
Ann: Trading Update, Cost Initiatives & Sydney Strategic Review, page-402
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