Report
Daniel Ragonese
EUR 101.80 For Business Accounts Only

Large-scale capital projects are on the horizon for The Star Entertainment in Sydney and Queensland.

Our AUD 4.30 per share fair value estimate for no-moat Star Entertainment is unchanged following a mixed start to fiscal 2018. The international VIP business rebounded quicker than expected, however, this was partially offset by the higher rebates and commissions. Underlying NPAT grew 12% on the pcp to AUD 120 million, and at the group level, the business is tracking broadly in line with our full-year projections.
Our earnings estimates are broadly unchanged, and we forecast a healthy 9% normali...
Underlying
The Star Entertainment Group Ltd

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Daniel Ragonese

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