Update from Macquarie today.
Star Entertainment has reset its balance sheet with the refinancing of debt and a capital raising of $750m and can now serve the AUSTRAC fine.Macquarie also notes, while the Queen's Wharf Brisbane debt refinance has been an issue, there is now room for the company to provide an equity top-up should that be required.The broker forecasts $259m in EBITDA for FY24, which implies a -18% decline. Trading in the year to date is assessed to be slightly soft but should improve, with complimentary drinks reinstated in early September.Outperform retained. Target is reduced to $0.75 from $1.25, as a result of the capital raising.
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Update from Macquarie today.Star Entertainment has reset its...
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