Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
The latest bad news of social/gambling tax on the Star (SGR) brings its market cap close to $2b. With FY22 net asset of $3.4b, or $1.8b stripping out all goodwill... is its assets getting interesting? Will another PE takeover come knocking?
Hi Nathan,
As you know we have had SGR in the too hard basket over recent years and while its plunge under $2 has undoubtedly returned a degree of value back to the casino operator we still haven’t considered adding it to MM’s Hitlist, even though its market cap is now sub $1.8bn.
We feel it may be worth considering over the coming years but for now we believe there are better places for our funds.
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