Ann: NSW Casino Duty Rates Update, page-100

After all the analyst upgrades (or keeping them stable or not reducing price targets ) I thought the tax back down by the NSW govt would have added value to Star Share price. Clearly not at this stage

My gut feel is that its got to do something with the refinance and the AUSTRAC FIne

But honestly if I were in the private equity camp, I would be running the ruler over STAR -
1) Tax agreement is great
2) Building values/assets are in prime zones
3) Business is in duopoly zone - the only competitor is Crown
4) The fines are what they are - a one off

At this price tag - Private Equity are getting huge value, spend some money in it, revamp a bit of stuff, and in 3-5 years load it up with debt and spit it back to the market via a IPO - make money!!! This is their bread and butter, it is a matter of time before they take this private