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SGR, THE STAR ENTERTAINMENT GROUP |
 Posted: Sep 16 2020, 02:25 PM
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 Posts: 3,119 Thanks: 1122  |
How on earth can the board of star possibly have approved this??
from todays OZ QUOTE Casino group Star Entertainment has paid its top executives $1.4m in bonuses after it put its hand out for $130m in taxpayer cash to fund the wages of almost 7000 staff it stood down in April. The company opted to pay out its short-term incentive (STI) payments in the form of deferred equity this year to preserve cash during the COVID-19 pandemic.The company opted to pay out its short-term incentive (STI) payments in the form of deferred equity this year to preserve cash during the COVID-19 pandemic. Chief executive Matt Bekier received $829,872 in deferred equity on top of his $1.56m base salary, taking his total remuneration to $2.36m. Three other executives shared in the remainder of the $1.4m in bonuses. But Mr Bekier could have received more. He agreed to a 40 per cent pay cut, while non-executive directors took a 50 per cent cut to their fees. Star remuneration committee chair Sally Pitkin said while the group did not hit its STI target, the board decided to pay STI bonuses in the form of deferred equity, which is subject to a one year retention restriction because the group was performing ahead of budget before the COVID-19 pandemic struck. The group did not achieve the financial gateway under the STI, however, the board has decided to exercise its discretion to make limited equity awards under the FY20 STI, Ms Pitkin said in the groups annual report.The group was performing strongly against all key strategic and operational metrics in FY20 until the COVID-19 pandemic occurred, requiring the mandatory shutdown of operations in March 2020. Pre-COVID-19, Normalised NPAT up to the end of February 2020 was 15.6 per cent ahead of the (prior corresponding period) and 5 per cent ahead of budget. Both guest satisfaction and safety measures were at or above expectations. Following the impact of COVID-19, the groups full year normalised NPAT of $120.8m was 46 per cent below the prior year and 49 per cent below target. The group stood down about 90 per cent of its workforce after the federal, NSW and Queensland governments banned non-essential businesses on March 25, leading to the cessation of Stars gaming activities and closure of food and beverage outlets. Its annual report revealed Star expected to receive up to $130m under the federal governments JobKeeper wage subsidy to pay the wages of almost 7000 staff up to September 27. Where are all the Superfund managers, those who say they are keeping a sharp watch on boards to make sutre they are inclusive, have a social conscience bla bla bla. dead silence. Hope you are reading this Henrietta, Their hypocrisy is stunning, if not unexpected. Mick -------------------- sent from my Olivetti Typewriter.
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Posted: Aug 19 2019, 10:40 PM
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 Posts: 6,791 Thanks: 2307 |
In Reply To: blacksheep's post @ Aug 10 2019, 12:35 PM Some good news for the embattled casino operators - they've been doing it tough lately  Berejiklian delivers on a jackpot day for Sydney casinos QUOTE Sydney’s two casino giants have hit the jackpot after the Berejiklian government dropped a legal case that threatened Crown Resort’s interests at Barangaroo, and the Premier intervened personally in support of an apartment and hotel tower at The Star casino in Pyrmont. But Gladys Berejiklian's incursion into the debate about The Star’s proposed $500 million tower has exposed her to criticism that she risks undermining the credibility of the state’s planning system. https://www.smh.com.au/national/nsw/berejik...819-p52imz.html
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-------------------- The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington |
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Posted: Aug 10 2019, 12:35 PM
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Posts: 6,791 Thanks: 2307 |
In Reply To: blacksheep's post @ Aug 8 2019, 07:26 PM The Star casino roped into Crown controversy over links to junkets By Nick McKenzie, Nick Toscano and Grace Tobin August 9, 2019  11.21pm QUOTE An Asian money launderer used a Star Entertainment casino account in Sydney to send more than $400,000 offshore in a transaction tracked by Australian Federal Police investigators A 2018 report by Hong Kong gambling and racing authorities shows that in January 2012, federal police officers in Sydney identified two alleged money launderers making "a cash deposit of AUD$403,000 into an account at Star Casino in Sydney.". read more - https://www.smh.com.au/business/companies/t...808-p52fbe.html https://www.shortman.com.au/stock?q=sgr
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-------------------- The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington |
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Posted: Aug 8 2019, 07:26 PM
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Posts: 6,791 Thanks: 2307 |
-------------------- The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington |
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Posted: Jul 31 2019, 07:54 PM
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Posts: 6,791 Thanks: 2307 |
May get caught up in the Crown investigation?
QUOTE Mr Phelan did not name which operators were being examined but his statement raises the possibility that his investigation could include Crown's main domestic rival, Star Entertainment, which owns casinos in Sydney, Brisbane and the Gold Coast.
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-------------------- The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington |
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Posted: Feb 16 2018, 12:42 PM
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Posts: 6,791 Thanks: 2307 |
In Reply To: blacksheep's post @ Feb 15 2018, 08:14 PM Market not impressed - SP down 5.37% currently @ $5.725/share extract from The Age QUOTE Australian casino giant Star Entertainment Group's profits have slumped, partly due to an "abnormally low" house win rate against foreign high-roller gamblers.
Star's profits slumped 76.8 per cent in the six months through December, the company announced on Friday, attributing the drop to lower win rates in its "international VIP" division. Earnings were also weighed down by $32 million in significant items including debt-restructuring costs. But Star said its underlying net profit - which removes the "inherent" volatility of the VIP win rates - had increased by 12 per cent to $120 million. Chairman John O'Neill said the results showed wealthy foreign gamblers were returning after a dramatic decline in the wake of the arrests of Crown Resorts staff in China in 2016. "Our international business has returned to activity levels comparable to those before disruption of the North Asian market in October 2016, and been further enhanced by the steps we have taken over the last few years to diversify growth in that line of business," he said.
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-------------------- The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington |
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Posted: Feb 15 2018, 08:14 PM
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Posts: 6,791 Thanks: 2307 |
In Reply To: blacksheep's post @ Feb 2 2018, 11:34 AM Some strong buying at the end of the session. SP up 1.34% @ $6.05/share SGR due to release their 1H2018 financial report tomorrow
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-------------------- The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington |
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Posted: Feb 2 2018, 11:34 AM
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Posts: 6,791 Thanks: 2307 |
In Reply To: blacksheep's post @ Dec 18 2017, 10:01 AM SP rising on no news - other than some political donations to the NSW Liberal party, along with CWN donating to Labour  - over past few days? SP up 1.19% @ $6.355/share currently, reaching a new high https://www.shortman.com.au/stock?q=sgr https://www.theguardian.com/australia-news/...re-in-australia
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-------------------- The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington |
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Posted: Dec 18 2017, 10:01 AM
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Posts: 6,791 Thanks: 2307 |
In Reply To: blacksheep's post @ Nov 8 2017, 11:35 AM Updated chart - SP nudging the $6.00 mark https://www.shortman.com.au/stock?q=sgr
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-------------------- The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington |
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Posted: Nov 8 2017, 11:35 AM
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Posts: 6,791 Thanks: 2307 |
In Reply To: blacksheep's post @ Oct 27 2017, 09:58 AM Losing a bit of steam now. SP currently $5.78/share https://www.shortman.com.au/stock?q=sgr
-------------------- The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington |
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