Jefferies downgraded Star Entertainment to Underperform from Hold with a price target of A$0.43, down from A$0.47. Trading conditions have been in deterioration for some time for Star, says the firm, which has become “more concerned” with the changing regulatory and governance regime. Given “concerning” recent reports and developments in the Bell Review 2 the firm expects harsher punishment than Bell Review 1, which could see Star no longer retain its casino licence, the analyst tells investors.
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