Morningstar analyst Angus Hewitt considers a 50% chance that the company falls into administration and lowers his valuation by 60% to $0.20 whilst our going concern valuation is $0.40 per share. Unfortunately, the inquiry is not off to a great start for Star shareholders, putting pressure on Star Shares. The Star Entertainment share price is now down 24.64% over four trading sessions, as depicted in the chart below. Shares in Star have rallied, however, after the Hotel Cecil casino customer satisfaction operator confirmed it had received bids to buy out its stake in Brisbane's Queen's Wharf development, as it warned of "material uncertainty" about its future prospects.
However, Star and its JV partners were "unable to reach agreement on a number of outstanding commercial issues" relating to the deal. Revenues are down, with Star Entertainment reporting an unaudited $270 million in revenue for 4Q FY25, down 31% on 4Q FY24. The gambling company confirmed that JP Morgan increased its voting power in the group by 6.34% to 7.41%, taking its shareholding from around 182 million to nearly 213 million. We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work.
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The company has taken an appropriate approach to shareholder distributions with the suspension of dividends during the pandemic. The remains their intention until suitable providing it remains within its target leverage range at the time. The gaming sector carries a set of constant risks including tax increases, JeetCity cashback offers ESG risks, and heightened regulatory scrutiny. Boosted by new developments in Queensland and a recovery from current headwinds, we project a 5% annual revenue growth for the five years ending fiscal 2029.
Motley Fool contributor Tristan Harrison has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. Investors will soon learn what the casino company has decided to do once it announces its plan in the next few days. It seems there is a lot of work operationally and financially to do for the company to continue operating. Despite today's boost, the Star Casino share price is still down a painful 76% from this time last year. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report.
The Sydney segment consists of The Star Sydney's casino operations, including hotels, restaurants, bars and other entertainment facilities. The Gold Coast segment consists of The Star Gold Coast's Dunder Casino Help Center operations, including hotels, theatres, restaurants, bars and other entertainment facilities. Star Brisbane, including Crown Casino Melbourne casino slots operations, Excalibur hotel casino best games, restaurants, bars and other entertainment facilities.
Sign Up for Take StockInvestment news, stock ideas, and more, straight to your inbox. Solid operational performance wasn’t enough to offset weaker earnings. DBC's total current drawn balance on the debt facility is approximately $1.4 billion. The collapse of the deal means Star Entertainment will retain its 50% equity interest in Destination Brisbane Consortium (DBC). Star Entertainment gets to keep the $35 million prepayment for the sale of apartments in the Tower 2 development on the Gold Coast.
Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Market data is provided and copyrighted by Thomson Reuters and Morningstar. Star Entertainment needs to lock in a multimillion-dollar funding package before the start of April or faces the prospect of voluntary administration. The gaming giant had called off negotiations on an early proposal after finding itself unable to agree on key details of a plan to sell its Brisbane precinct. Star is not expected to file audited accounts before the ASX’s deadline.
If the allegations are proven, it won’t be just the shareholders who have suffered. Anti-money-laundering laws exist because criminals need to clean their ill-gotten gains, or make them appear legitimate. While not alleged in this instance, in general, money-laundering enables crimes such as scams, fraud, child exploitation and drug/sex trafficking.