Morningstar - Star Entertainment Group Limited (SGR) Stars Earnings Will Suffer When Crown Arrives, But Queensland Projects Will Provide Some Reprieve

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Morningstar

Daniel Ragonese

EUR 100.00 For Business Accounts Only

Star's Earnings Will Suffer When Crown Arrives, But Queensland Projects Will Provide Some Reprieve

No-moat-rated Star Entertainment reported a mixed interim fiscal 2019 result, with net profit after tax, or NPAT, of AUD 124 million, which was a 2% decline on the prior year. At the current pace the company is tracking below our expectations, and we have cut our fiscal 2019 NPAT forecast by 3% to AUD 260 million. The domestic gaming performed extremely well, with both slots and tables delivering strong growth at Sydney and Melbourne, exceeding our expectations. However, this was largely oversha...

11/06/2019 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 Suffer When Crown Arrives, But Queensland Projects Will Provide Some Reprieve

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

Sasol Provides Full-Year Production Update

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