Casino operator SGR has played 2nd fiddle to Crown (CWN) of late as the Melbourne based operator received a takeover offer from Blackstone. Last month the company announced a revenue drop of 36% for the half-year courtesy of COVID, slot machines appeared to be the businesses saving grace. The stocks only trading ~15% lower than when the pandemic broke out last year which is not exciting from a risk /reward perspective when revenue & profitability is down significantly and plenty of optimism is built into the share price.
MM is neutral SGR around $3.80.
Add To Hit List
