I've been quietly pondering other options $SGR can avail.
The first thing that Steve did with the JV Partners is a masterstroke and allows a $800mill debt reduction straight away and monthly expenses. Now we have $400mill to go and $200-$300mill cash on hand (locked partially from fines uncertainty)
Given the exclusivity of poker machines at the Star Sydney, which Crown wants to do for some years now; I think letting them acquire the Sydney bit for a tidy sum while not costing them not too much will alleviate a lot of problems and allow us to continue as a going concern.
Gold coast Star is the best property we have and its profitable, so just cutting down to this and then focusing on business operational efficiency would be the way to go.
Its been a wild ride owning this stock with you all, and I hope we can continue as a company over getting acquired. Hope the board can get us the best situation. Best wishes to everyone working tirelessly so far.
SGR Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
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