Morningstar - Star Entertainment Group Limited (SGR) Shares in Star Entertainment Are Still Slightly Overvalued Despite Recent Derating

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Morningstar

Daniel Ragonese

EUR 100.00 For Business Accounts Only

Shares in Star Entertainment Are Still Slightly Overvalued Despite Recent Derating

We are expecting a strong finish to fiscal 2018 for no-moat-rated Star Entertainment group, and we project EBITDA growth of around 15%. A key contributor of this growth will be the ongoing recovery of VIP turnover, which had suffered in periods following the detention of several Crown employees during fiscal 2017. The near-term strength will be partially offset by lower table hold rates, which are impacting performance in Sydney. Despite the stock price falling by over 20% since the start of cal...

03/08/2018 12 EN

Underlying

Star Entertainment Group Limited

Star Entertainment Group is a resort company, engaged in gaming, entertainment and hospitality. Co. owns and operates The Star Sydney, Treasury Casino and Hotel, Brisbane and Jupiters Hotel and Casino, Gold Coast. Co. also manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government. Co. segments include: The Star Sydney, which comprises the Star Sydney's casino operations, including hotels, apartment complex, restaurants, bars and night club; Gold Coast, which comprises Jupiters' casino operations, including hotel, theatre, restaurants and bars; and Treasury Brisbane, which comprises Treasury's casino operations, including hotel, restaurants and bars.

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AU000000SGR6 Australian Securities Exchange Australia

Provider

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.

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Analysts

Daniel Ragonese

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Shares in Star Entertainment Are Still Slightly Overvalued Despite Recent Derating

The Star Entertainment Group Ltd: 1 director

Monthly LMI Update Independent Investment Research

With a more favourable environment, STAR ENTERTAINMENT improves to Slightly Positive

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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