Yes, for many of the venues and business arms, the fat lady has...

Yes, for many of the venues and business arms, the fat lady has sung, and it's as if the bouncers are pushing investors out the door. That being said, I previously held SGR stock (exiting with a small profit by the skin of my teeth). Why am I still interested in SGR?

Well, sharper minds than mine are almost certainly as I type assessing Star Group assets, particularly looking for potential real estate plays.

Let’s face it: the casino side of the business is effectively a liability—whether due to government sh*tf*ckery , unfair taxes, or a damaged social license. It's a classic case of negative equity. Some of the easiest profits are often made by acquiring overcapitalized underperforming assets at a discount and repositioning them with a new capital baseline
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In my view, the path forward for Star Group is through divestment. They should separate into two entities:

1. "StarLand Holdings" – A stable, lower-risk entity focused on property, commercial, and residential leases, and future real estate development. This would own the assets and act as a real estate investment trust (REIT), generating predictable income from leases.

2. "StarWorld Entertainment" – A higher-risk, dynamic company managing the casinos and entertainment venues. This company would operate the business on a commercial lease basis, paying rent to StarLand Holdings, but would focus on growth and cash flow for its investors. Importantly, StarWorld Entertainment would be the prime tenant, leasing casino and entertainment properties from StarLand Holdings.

This split would allow each entity to attract its own type of investor. Ethical investment funds could flow to StarLand Holdings as a low risk/reward real estate play, while those seeking higher growth and potential cash flow could focus on StarWorld Entertainment, should they believe in the business turnaround, or maybe it will fold, high risk/reward.

This split would allow each entity to attract its own type of investor. Ethical investment funds could flow to StarLand Holdings as a real estate play, while those seeking higher growth and potential cash flow could focus on StarWorld Entertainment. As a major employer with an asset-light model, StarWorld Entertainment could even stare down government interference, with the leverage to respond to the threat of heavy fines with, "Make my day—think about the thousands of voters and jobs.