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SGR - THE STAR ENTERTAINMENT GROUP LIMITED


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Could casino king James Packer be looking to place a Star on his Crown?

 

Elizabeth Knight

JULY 14 2017 - 3:11PM

 

As it turns out, Crown wasn't the buyer. Much of the stock was picked up by institutional investor Perpetual, which is already Star's biggest shareholder.

 

Just because Crown didn't take a portion of the Genting stake doesn't mean Packer is out of the picture. There is really little point in showing his hand now if Crown is stalking Star and isn't yet ready to move.

 

There are many commercial reasons why it makes sense for Crown to move on Star and I will get to that later. But there is only one obvious reason Crown would be reluctant ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ and it's called Barangaroo.

 

http://www.theage.com.au/business/could-ca...714-gxb9he.html

 

http://www.afr.com/business/gambling/perpe...20170714-gxb7m2

 

 

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  • 3 weeks later...

AFR are reporting the Qld Govt has canned the Chinese ASF Group consortium's proposed $3 billion casino and integrated resort on the Gold Coast - good news for SGR.

 

The decision, announced by Premier Annastacia Palaszczuk on Tuesday, is a major boost for The Star Group which owns the Gold Coast's only casino, Jupiters, as well as Brisbane's Treasury casino. The company is also building the $3 billion Queens' Wharf integrated resort and casino in Brisbane's CBD.

 

Read more: http://www.afr.com/news/politics/palazczuk...7#ixzz4oUezGZlW

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Market responded to yesterday's news - SP up over 4% currently sitting @ $5.255

 

Will the Gold Coast still have a second casino?

 

Even though the Government knocked back a Casino on The Spit, the licence for an integrated resort development (IRD) is still on the table.

 

It means the development of another casino somewhere in the Gold Coast region is still possible.

 

But are there any takers?

 

The operators of the existing Star Casino on the Gold Coast, Star Entertainment Group, would not comment on whether they would apply for the licence.

 

But in statement it said the group was focusing "on our existing pipeline of developments".

 

"The Star Entertainment Group welcomes the decision by the Palaszczuk Government to develop a master plan for The Spit," the statement said.

 

"As a stakeholder with a significant investment in the area via the Sheraton Grand Mirage, we look forward to participating in those discussions and working to preserve the unique natural environment of The Spit."

 

http://www.abc.net.au/news/2017-08-02/gold...certain/8764364

The ASF Consortium did not respond to the ABC.

 

The State Government said in a statement it was conducting "market sounding to determine if there is an appetite for an IRD development in Queensland".

 

"If Government were to go to market, any new integrated resort development would need to meet our criteria, which includes a focus on expanding international tourism and the jobs and business opportunities that it brings," it said.

 

http://www.abc.net.au/news/2017-08-02/gold...certain/8764364

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ASF Consortium not giving up without a fight

 

Chinese consortium ASF is not ruling out a legal challenge to the Queensland Government's decision to reject its proposed $3 billion casino resort development on the Southport Spit.

 

ASF had planned a five-tower development on Crown land that included a casino, entertainment venues, theatres, hotels and residential apartments.

 

On Tuesday, the State Government announced it had ruled out the proposed development after months of community consultation, and that a new master plan would be developed instead.

 

This morning, ASF director Louis Chien told ABC Radio Brisbane the consortium was reviewing its next move.

 

"Nothing is off the table, including legal action, and we are clearly focused on what just happened and what needs to happen next," he said.

 

http://www.abc.net.au/news/2017-08-04/sout...allenge/8774132

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  • 3 weeks later...

SP currently up 4.9% @ $5.35/share on profit results

Star Entertainment posts record full-year profit

 

The casino operator said its reported net profit for the year to June 30 rose 36 percent to A$264.4 million ($209 million) from A$194.4 million a year ago. That was ahead of an average of six analyst forecasts for net profit of A$233.1 million, according to Thomson Reuters I/B/E/S.

 

The company declared a final dividend of 8.5 Australian cents per share, up from 7.5 cents per share a year ago.

https://au.investing.com/news/stock-market-...r-profit-502598

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  • 1 month later...
Say goodbye to the likes of CSL, Transurban and Sydney Airport and hello to Star Entertainment, SkyCity Entertainment and Tabcorp, three stocks that veteran stock picker John Murray from Perennial Value Management has come up with at a time when most value managers are struggling to find companies to invest in.

 

Read more: http://www.afr.com/markets/equity-markets/...6#ixzz4uLNKIlK0

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  • 4 weeks later...

Has had a nice run up since previous chart below - now $5.72.

 

"Growth rates in Star's VIP business exceeded both Crown and (New Zealand operator) Sky and VIP turnover for Star in FY17 exceeded both that of Crown and Sky combined," Mr Bekier said.

http://www.sbs.com.au/news/article/2017/10...ydney-challenge

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THE 2017 FINANCIAL YEAR RESULTS

♦ Statutory NPAT of $264.4 million, up 36.0% on FY2016

♦ Normalised NPAT of $214.5 million, down 11.1% on FY2016

♦ Actual EBITDA of $586.2 million, up 19.9% on FY2016

♦ Normalised EBITDA of $515.1 million, down 7.4% on FY2016

♦ Actual gross revenue of $2,432.2 million, up 3.2% on FY2016

♦ Normalised gross revenue of $2,337.3 million, down 3.9% on FY2016

♦ Basic Earnings Per Share up 36.0% on FY2016

♦ Full year dividend (fully franked) of 16 cents per share declared, reflecting a 50% statutory

NPAT payout ratio, up 23.1% per share from FY2016

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