Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Star Entertainment Group Limited ( (AU:SGR) ) has provided an update.
The Star Entertainment Group Limited announced the termination of its Heads of Agreement with joint venture partners, Chow Tai Fook Enterprises Limited and Far East Consortium International Limited. This termination results in The Star retaining its equity interests in the Destination Brisbane Consortium and Destination Gold Coast Consortium, as well as other assets. The company faces financial obligations, including repaying $10 million and reimbursing approximately $31 million to the joint venture partners. The termination also affects The Star’s operational responsibilities and financial commitments, such as maintaining its share of the DBC debt facility and considering alternative options for its assets.
The most recent analyst rating on (AU:SGR) stock is a Sell with a A$0.26 price target. To see the full list of analyst forecasts on Star Entertainment Group Limited stock, see the AU:SGR Stock Forecast page.
More about Star Entertainment Group Limited
The Star Entertainment Group Limited operates in the entertainment and hospitality industry, focusing on casino management and related services. The company holds significant interests in various consortiums, including the Destination Brisbane Consortium and Destination Gold Coast Consortium, and manages properties such as The Star Brisbane.
Average Trading Volume: 9,676,317
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$329.6M
Find detailed analytics on SGR stock on TipRanks’ Stock Analysis page.