Why the Star Entertainment share price is taking a time-out today

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Why the Star Entertainment share price is taking a time-out today

I’m not sure why the Grattan Institute cares whether people are dying with large super balances? I mean, wasn’t everyone pointing the finger at retirees for spending more than other generations (unfairly in my view – and no, I’m still working). I think the reason people don’t choose annuities is because they don’t want to. The financial sector was in demand, along with academic services and property trusts. The gains were largely across the board with 120 companies making gains, 72 losing ground and 8 going nowhere from Friday’s close. Some shares have overshot in value whilst others face company-specific issues.
Dr Higgins then told the court Star had commissioned a report by a security firm about the risk junket operators posed to Star and alleges the board should have been given the report. Looking ahead, Wall Street looks like dusting itself off after Friday’s sell off with futures markets pointing to a 0.3% rise on the S&P 500 tonight. Slightly off Broadway, a number of companies got in on the act to mixed reviews from investors.
Its pokies cashless policy reform is front and centre of its election platform, contrasted with a softer stance by the Labor opposition. Remember that individual shares or investments should only be considered as part of a broader investing strategy. Investors were favouring their sell buttons after the company reported a 15% quarter on quarter drop in revenue to $299 million. Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Several future updates detailing individual property detail and liquidity position should provide more clarity on the dire situation ahead.
Flight Centre shares are looking cheap following a strong start to the financial year, analysts say. They are down by around 74% this past year, collapsing by more than 30% in the past week alone. The Star share price has also sunk by around 96% over the past five years. Where is the incentive for directors to ask those tough questions of the executive, to rock the boat on a nice cosy board? The reputation of ASIC as an ineffective corporate regulator has not served either shareholders or the Australian casino customer lifetime value public well. The share price of Star Entertainment has fallen significantly in the past days. Net losses in the next two years are expected before a rough break even in fiscal 2027.
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With a $200 million emergency debt facility at a rate of 13.5%, it appears Star may be buying time ahead of a potentially value-dilutive equity raise in fiscal 2025. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show and premium investing services. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. The Star Entertainment Group Limited is an Australia-based company that provides gaming, entertainment and hospitality services. The Company operates The Star Sydney (Sydney) and The Star Gold Coast (Gold Coast). The Company’s segments include Sydney, Gold Coast, BlackCoin withdrawal options and The Star Brisbane.
The casino operator has been negotiating with its lenders over changes to covenants on borrowings of more than $400 million. Put simply, the Aussie casino live chat support giant isn’t in the best financial shape right now. They have since been volatile in Monday’s session, but are currently sitting at 12.7 cents, up 15.45% for the day so far. Of course today’s gains pale in comparison to the stock’s significant losses over the longer term. Here’s why brokers believe that now could be the time to snap up these shares. Macquarie expects very different market reactions following the upcoming AGMs for these ASX All Ords stocks.
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. In order to avoid a repeat of the above, the company is making an extensive effort to protect its exclusive position in Queensland through substantial capital investments. Unfortunately, due to the proximity of the Brisbane and Gold Coast casinos some cannibalisation may occur in the smaller gaming market.
Star has struggled financially amid regulatory inquiries and Harvest Buffet menu increasingly tough gaming regulations. The deal still needs to pass regulatory checks and be approved by the Queensland government. Eligible shareholders who wished to retain their Unmarketable Parcel were required to return a Share Retention Form to the share registry by the Closing Date. We’d like to share more about how we work and what drives our day-to-day business. The company, which owns and operates 19 venues in the United States, has offered a $250 million recapitalisation proposal that would hand it control. The terms are expected to be finalised as early as Monday, following a weekend of negotiations.