Given the financial strain Star is under, they might argue that the extreme economic conditions or regulatory pressures they are facing qualify as a material adverse change. If they can demonstrate that maintaining these jobs is no longer viable under the current circumstances, they could potentially seek to renegotiate or void parts of the agreement after consulting with the NSW government and the United Workers Union.The new executive team aren't just going to sit around letting the situation deteriorate and it will take time but it looks like they're already starting to maneuver. It will be interesting to look back in 6 months or so and see what they do. Steve Mccann has already announced the gaming revenue is not the main focus anymore so you might not be far from what the future holds. As long as the SP gets to $1 in under 2 years I'd be a happy camper.
SGR Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held