Hi CbrMaroon, the summary of risks is not exhaustive and you are...

Hi CbrMaroon, the summary of risks is not exhaustive and you are welcome to add to it.

Key notion is the SP has priced in major risks as being assumed. Some risks may be more dangerous to SP than others, and some risks may be much smaller. However, if someone were to think some or all are inefficently priced in, then a risk seeking investor will make up their own mind, as i have done.

Even if the Sydney casino licence was cancelled, Star owns the property and can lease it out, keep the hotels even, ornsell it all. There won't be zero revenues, but different revenues from a property play or divestment.

The Brisbane Queens Wharf development was slower than planned/expected, but have a look it's nearly completed and due to open August September 2024. A big property asset with 100 tenancies in a prime location.

Litigation is always uncertain but settlements are typical.

Management culture in Australia isn't typically excellent (USA does this better) and star isn't above average for Australia on this, but there is scope for real leadership with the new chair making it clear they will comply with regulations. Vacancies in senior roles to be filled, the opportunity for cultural change should not be discounted with fresh talent. A fixer CEO and good new directors and senior executives makes a difference.

In line with the title of this thread, my bets are placed and i am accumulating.

DYOR. NFA.