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Morningstar estimates Star has a fair value of $0.20 implying a price to fair value of 0.7, indicating the company trades at a discount to fair value. However, investors should approach with caution as the Uncertainty Rating remains extreme. Star Entertainment has returned to its customary position in the loser's column after warning shareholders about the "material uncertainty" of their investment, something they should be all too aware about already.
Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. Morningstar lowers our Uncertainty Rating from Extreme to very high after the results of the second bell inquiry were passed down. The scrutiny into Star’s suitability to hold a top neosurf casino with instant payouts and deposits licence ended in the best plausible outcome that the company could have hoped for. Whilst they are currently deemed unsuitable to hold a Bellagio casino lifestyle license, the enquiry ruled that the license need not be revoked entirely. Queensland is currently the only state where Star holds an exclusive position and consequently the company is throwing substantial amounts of capital (~$3 billion) in ensuring it stays that way. The Queen's Wharf joint venture development in Brisbane commands $2.6 billion of the spending with a 99-year lease and 25-year exclusivity period. Morningstar expects the extensive capital investment in Queensland to weigh on the near-term returns webinars on crypto betting invested capital.
In the tariff space, steelmaker Bluescope is up 2.2% thanks to its big US manufacturing business, while US-based Alcoa's depository notes are up 0.3%. At this stage, the first day of a six-week hearing, there is no likelihood of this session being turned into a blockbuster film. Bags of $50 notes tied with elastic bands, hiding from CCTV cameras, and cheques made out in cash are just some of the tactics the regulator alleges former directors and executives enabled. J.P. Morgan analyst Don Carducci said a key disappointment was the North American business where sales guidance was lowered from "good" to "solid". "There are some reports that suggest that in Australia alone, there are more than 6 million assets that will be needing to transfer from Windows 10 to Windows 11 before the deadline of October. Every year, Greenbox processes millions of discarded computers and other e-waste from large companies, government departments and agencies.
"With generative AI [artificial intelligence], there's a lot of waste and new waste streams coming from data centres," explains Ross Thompson, CEO of Greenbox. "Most recently, we have spent $2 billion on acquisitions and brownfields expansion of our operations there. Shares in steelmaker BlueScope have risen this session, currently up about 2 per cent, compared to modest losses for the broader market. "The ASI is hopeful that BlueScope's strong investment in the US economy is recognised by the Trump administration, which saw fit to exempt Australia from steel tariffs in the last Trump administration. "It's early days and we are still working to understand the impact of any potential tariffs on Australia's aluminium trade," says CEO Marghanita Johnson. While the F&FCO position was announced to the market in October last year, WiseTech said the terms of the agreement "are still in the course of agreement". "Well that was a fun Tuesday through Friday, lucky ones crypto regulations if you work in global e-commerce," said Derek Lossing, CEO of e-commerce and global supply chain firm Cirrus Global Advisors, told the news agency.
Consumer discretionary shares led the market sectors amid positive retail and inflation data last week. Of the ASX 200 companies reporting this morning, investors have been pleased with Ansell (+6.8%) while JB HiFi (-2.5%), and Car Group (-6.2%) have not impressed, both facing tighter margins. That's after Donald Trump told reporters that he planned to hit steel and aluminium imports — it appears investors are treating it as a potential positive for BlueScope, which has US operations. Tech company WiseTech Global's share price has slumped after fresh allegations were aired against billionaire founder Richard White in Nine Newpapers this morning. She said "it's questions of that kind" against the risk of losing a online casino free spins Australia 2026 license that the board should have asked. The operator had planned to sell its 50 per cent stake in the Brisbane complex to its business partners, but the talks have broken down. Star has arguably underinvested in its Sydney Australian casino loyalty points system, however the $500 million sunk in improving its VIP gaming segment is unlikely to deter Crown casinos from capturing 60% of its VIP market share by fiscal 2025.
A trading update from executive chair Jack Cowin has raised investors' confidence. Star had previously inked a deal to sell its Brisbane assets to its Hong Kong joint venture (JV) partners. Star told investors on Tuesday morning it had finally signed a deal with its Hong Kong partners — including one which was once linked to organised crime figures.
Health sector protective goods maker Ansell has impressed investors the most of all the ASX 200 companies reporting today. Of the ASX 200 companies reporting today, investors were happy with Ansell (+8.1%) while JB HiFi (-4.6%), and Car Group (-6.5%) didn't impress, despite higher interim profits. Ansell was the best of the ASX 200 companies reporting today (+8.1%), while JB HiFi (-4.6%) and Car Group (-6.5%) reported higher interim profits, but both fell short of their investors' lofty expectations. The legal battle between Star Entertainment and the corporate regulator started in the Federal Court. Meanwhile Hong Kong investors are circling Star's stake in the Queen's Wharf casino complex, sending shares higher. Strict new gambling rules and fewer tourists at the casino operator’s flagship Sydney establishment have pushed the company into a loss for the past three months.
In morning trade, the casino operator's shares are down a massive 19% to $1.52. Star Entertainment chairwoman Anne Ward attended 45 board meetings (of a possible 46) of the distressed casino operator in the 2024 financial year. Necessitated by Star Entertainment being a dumpster fire (which might be unfair to dumpsters and/or fires).