The Star shares extend losses as Morningstar slashes valuation
Monday 04 de November 2024 / 12:00
⏱ 1 min read
(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
AffPapa Conference Madrid 2026
18 de May 2026
Nordic.Partners Eyes the Future at AffPapa Madrid 2026
(Madrid, SoloAzar Exclusive).- During last week's AffPapa Conference Madrid 2026, SoloAzar spoke with Sara Hägge, CEO at Nordic.Partners, about the company’s participation in the event, the evolution of affiliate marketing within the global iGaming industry, and the strategic role of technology, branding, and community-building in today’s increasingly competitive market. In this interview, Hägge shares her views on affiliate needs, operational efficiency, AI integration, and the future opportunities shaping the affiliate ecosystem.
Thursday 28 May 2026 / 12:00
AI Is Redefining Acquisition, SEO, and Retention in iGaming
(Madrid, SoloAzar Exclusive).- At the AffPapa Conference Madrid 2026, industry leaders gathered for the panel “From Algorithms to Advantage: How AI Is Reshaping Acquisition, Retention, and Risk in iGaming,” where experts explored the growing influence of artificial intelligence across marketing, SEO, CRM, localization, and business operations. Moderated by Viorel Stan, the discussion featured insights from Shahar Attias, Assaf Stieglitz, Julia Logan, Efe Baysal, Frederico Camara, and Aris Vrakas.
Wednesday 27 May 2026 / 12:00
AffPapa Conference Madrid 2026: “The Next Generation Doesn’t See a Border Between Gaming and Entertainment”
(Madrid, SoloAzar Exclusive).- At the AffPapa Conference Madrid 2026, industry executives and product specialists gathered for the panel “Gen Z & Gen Alpha: Designing Products For the Next Player Generation,” a discussion focused on changing player behavior, digital habits, gamification, prediction markets, and the future of iGaming products. Moderated by Thomas Carvalhaes, the session featured insights from Filip Koubek, Natalia Roitonen, Laura Gago, Henk Wolff, and Artak Ashkhatoyan. Throughout the conversation, speakers debated how younger audiences interact with gambling-related products and why operators must rethink product design, engagement, and responsible gaming strategies.
Tuesday 26 May 2026 / 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.
