Morningstar - Star Entertainment Group Limited (SGR) Stars Earnings Will Come Under Pressure When Crown Sydney Comes Online

Report

Morningstar

Daniel Ragonese

EUR 100.00 For Business Accounts Only

Star's Earnings Will Come Under Pressure When Crown Sydney Comes Online

We have trimmed our near-term earnings estimates slightly (around 2% on average during fiscal 2019-2021) to reflect softness on Sydneyâ€™s main gaming floor and moderating VIP growth, both of which we believe are temporary. Notwithstanding, our long-term projections are broadly unchanged, and we continue to forecast low-single-digit EPS growth on average during the five years ending fiscal 2023. Following the recent sell-off, shares in Star Entertainment are broadly fairly valued relative to our u...

21/02/2019 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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Star's Earnings Will Come Under Pressure When Crown Sydney Comes Online

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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