Financials looking OK. Star is profitable when you strip out the Real Estate Investment business.
A casino operator is never ever meant to invest in real estate. That needs to be done by a separate entity because the valuation metrics are chalk and cheese. Nobody owns real estate as an operating company anymore = that was done away with in the 1980's/ 90's. Anybody who doesn't address this conflict between a real estate company and an operating company doesn't know what they are talking about - which sadly includes 98% of all Aussies, media and HotCopper posters.
Strip out all the real estate = step one. Then you are making money straight away and a higher multiple is applied. SGR is worth 20-25 cents based on those recent financials. Current Stock Price is being held to 11 cents (by criminals) until all their "shorter" mates get their money out and because the wider public doesn't understand casino financial statements.
SGR Price at posting:
10.8¢ Sentiment: Buy Disclosure: Held
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