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28.5¢ the star entertainment group limited

Even if crown gets stars license, the casino itself is not built...

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Tren1

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27/05/24

12:02

Post #: 74023624
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Originally posted by TheBunyip: ↑

SGR owns the Sydney property, however the risk is the licence. Blackstone covers the licence risk, so I assume it is in the background trying to partner with somebody like Hard Rock to run the Star Sydney - per the announcement there is a consortium of parties. Both these parties could be lobbying the Government and piling negative media attention onto the Star. Potentially a good Government donation once the inquiry is complete and the Star loses its licence. I have no information on this, pure speculation. This could be a drawn out negative process.

Regardless of all this, I still expect an offer to be around $0.60 before August when the Qld building will be complete and revalued to its final market value. This is an opportunistic offer.

The Star could also do a deal with Blackstone, i.e. Blackstone runs the Casino and the Star charges rent + % of revenue for example. There are lots of options that could play out, even if the Star loses its Sydney licence. The Star still holds some cards, as they own the building.

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Even if crown gets stars license, the casino itself is not built for purpose of main floor gaming like star is

it truly is a mess whats occured, they shouldn't of even allowed a 2nd casino to open in the same state

SGR Price at posting: 48.0¢ Sentiment: Hold Disclosure: Held
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Last 28.5¢		Change 0.020(7.55%)		Mkt cap ! $810.4M

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