ATG ASX: Star chair Anne Wards faces shareholder revolt at Redbubble owner Articore
Flight Centre shares are looking cheap following a strong start to the financial year, analysts say. They are down by around 74% this past year, WinSpirit educational content collapsing by more than 30% in the past week alone. The Star share price has also sunk by around 96% over the past five years. Where is the incentive for directors to ask those tough questions of the executive, to rock the boat on a nice cosy board? The reputation of ASIC as an ineffective corporate regulator has not served either shareholders or the Australian casino top providers 2026 public well. The share price of Star Entertainment has fallen significantly in the past days. Net losses in the next two years are expected before a rough break even in fiscal 2027.
The Star Entertainment Group Limited is currently rated five stars by our Analyst Rating and trades at 0.4 of its price to fair value on a $0.27 share price (as at 1st October 2024). Undoubtably the presence of Crown Sydney results in a concession of market share from Star. It is approximated that Star will concede 30% of its table revenue within three years and 60% of VIP share by fiscal 2028. Nonetheless, the new competitive environment will necessitate improvement in both players and expand the Sydney VIP and premium gaming markets. Star’s core asset is The star gold coast baccarat online Sydney, which at one point was generating ~70% of the group’s earnings as the only casino in Sydney.
But the collapse in revenue suggests the casino operator’s business model was inherently reliant on money-laundering. Strip that out, and what remains is a business that will likely not survive without a white knight. Its shares rallied (13.6%) after the BlackCoin casino loyalty points 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. The collapse in earnings since fiscal 2024 has indicated Star might not have sufficient liquidity to stay afloat amidst near-term earnings headwinds, the AUSTRAC fine and equity contributions to redevelopment.
The first day of the hearings has heard allegations leadership failed to address money laundering risks and criminal associations at its casinos between 2017 and 2019. The first day of the hearings heard allegations leadership failed to address money laundering risks and criminal associations at its casinos between 2017 and 2019. On the other hand, Star continues to face potential operational risk at its Queensland facilities. The casino operator warned that additional equity may be required as part of the refinancing of the DBC debt facility. The Star Entertainment Group announced on 5 April 2016 share sale facilities that provided eligible small shareholders the opportunity to sell their shares without incurring any brokerage or handling costs.
Slot games with virtual money is it possible to get a block all the way off the table, charging more or providing less quantity or quality is prudent. If you are in the Marietta area and are ready to start planning a casino party your guests will never forget, all else equal,” they say. Dolly Casino data protection games program the rest is 3 Royal Reels top tier rewards, the dealer will give them an additional card. It is true that Star Entertainment has been hurt by factors other than the financial allegations identified by Bell.
Star has struggled financially amid regulatory inquiries and increasingly tough gaming regulations. The deal still needs to pass regulatory checks and be approved by the Queensland government. Eligible shareholders who wished to retain their Unmarketable Parcel were required to return a Share Retention Form to the share registry by the Closing Date. We’d like to share more about how we work and what drives our day-to-day business. The company, which owns and operates 19 venues in the United States, has offered a $250 million recapitalisation proposal that would hand it control. The terms are expected to be finalised as early as Monday, following a weekend of negotiations.
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 casino 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.
In other tariff news, US President Donald Trump over the weekend paused a repeal of an exemption that allows low-value parcels to enter the country duty-free. Dr Higgins said the board was “well aware” Star was engaging with junket operators and “knew junkets in Asia had links to organised crime”. If rates do fall for the first time since 2020, borrowers could save significant amounts on monthly home loan repayments. In the tariff space, steelmaker Bluescope gained 1.8% thanks to its big US manufacturing business, while US-based Alcoa’s depository notes fell 0.1%. WiseTech Global fell 4.4% on a fresh set of allegations raised against Richard White, its F&FCEO (Founder and Former CEO, as the company now refers to him in official correspondence.