Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM team, Thank you for all your insights, they are always very helpful. Just a query about Star Entertainment Group (SGR). Given that their issues with regulators have finally been resolved, do you think this stock is worth buying at its current depressed share price?
Hi Tim,
We definitely think your question is apt including the word “punt”, the stock has looked cheap a few times in recent years but its still tumbled lower.
Last week we heard that the NSW casino regulator acknowledge that cancelling Star Entertainment’s licence to operate in Sydney would result in the collapse of the entire company, a good sign that this isn’t there intent. Philip Crawford, the Independent Casino Commissioner, went as far as to say he was optimistic that the company, which also operates in Brisbane and the Gold Coast, would repair its cultural shortcomings under the leadership of its new CEO, former Lendlease boss Steve McCann, i.e. they have some time.
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