The Star shares extend losses as Morningstar slashes valuation
Monday 04 de November 2024 / 12:00
2 minutos de lectura
(Sydney).- Star Entertainment extended losses on the ASX as Morningstar slashed its fair value estimate on the casino operator and halved its full-year earnings forecast.
Star shares were down 5.88% to 24 cents by 1:30pm AEDT. The casino operator closed 3.8% lower on Wednesday, after the group reported an 18% slide in revenue, a 10% rise in operating costs, and an EBITDA loss of $18 million for the first quarter.
Morningstar lowered its fair value estimate from 67 cents to 50 cents, with around 45% of the downgrade due to lower earnings forecasts, 40% due to a more dilutive equity raise, and around 15% driven by the "prohibitive" interest rate of 13.5% on the Star's debt facilities.
Morningstar halved its FY25 EBITDA forecast to $67 million, with its FY26 and FY27 forecasts reduced by about a third.
Morningstar analyst Angus Hewitt said that while the Star's shares are "materially undervalued", conditions have deteriorated "further than expected" for the group, and the impact of mandatory cards and cash limits is worsening.
However, Morningstar expects the Star to deliver "strong earnings growth" over the next decade, Hewitt said, buoyed by the recovery from pandemic-induced lows, the ramp-up of its Queen's Wharf and Gold Coast growth projects, and solid performance from its Sydney property.
Categoría:Casino
Tags: Sin tags
País: Australia
Región: Oceania
Event
SiGMA Central Europe
03 de November 2025
Uplatform Captivates SiGMA Central Europe 2025: Fresh Ideas, Juicy Results
(Cyprus).- At Fiera Roma, where countless booths fought for attention, only one stopped attendees in their tracks and sparked the reaction, “You have to see this”—Uplatform’s standout showcase.
Thursday 20 Nov 2025 / 12:00
SiGMA Central Europe: An Exclusive Conversation with GR8 Tech’s Chief Sales Officer Yevhen Krazhan
(Rome, SoloAzar Exclusive).- In this interview, Yevhen Krazhan, Chief Sales Officer at GR8 Tech, discusses the cutting-edge products and solutions showcased at SiGMA Central Europe, the audience’s enthusiastic response, and how GR8 Tech is carving out a strong position in high-growth regions such as MENA, Africa, and Latin America.
Thursday 20 Nov 2025 / 12:00
Belatra Showcases Innovation and Expansion Strategy at SiGMA Central Europe
(Rome, SoloAzar Exclusive).- Belatra Games made a powerful impression at SiGMA Central Europe, where Chief Marketing Officer Kateryna Goi unveiled the company’s latest titles and strategic vision. The booth buzzed with excitement as visitors explored novelties such as Long Neck Fortune, Goose Boom Bang, and Fortune Mummy, alongside the centerpiece attraction—the Mummyverse, a connected universe of thrilling slot experiences. Read more about company’s growth and future expansion across Europe.
Wednesday 19 Nov 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.