So Blackstone paid $9 billion for Crown. Now they want Star for a song through an Administration proud cess where shareholders are wiped out with zero. Lenders won’t allow more time by waiving covenants for asset sales and charging outrageous interest of 13.5%. Yet they don’t mind screwing over shareholders so long as they are repaid in full.Star has $150 million provisioned for the AUSTRAC fine yet they won’t adjust it for the low market cap of star or confirm it. $60 million in restricted cash from asset sales. Government won’t allow tax relief. NICC still charging millions in remediation costs and fines going hard for a company about to die. Uneven playing field between star and pubs / clubs due to all of the restrictions.All these parties need to focus on the viability of star with current shareholders. If Blackstone want the assets then they should make a takeover bid.
SGR Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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