Star will have to raise equity, but who will turn up?
The casino operator is operating in the universe of penny dreadfuls. It is out of the ASX 200, shares are illiquid, and sell-side analysts have mostly given up.
Casino operator Star Entertainment is doing everything possible to keep institutional investors offside.
The three big issues – losses at its Brisbane entertainment complex Queens Wharf, a pending fine from AUSTRAC and a regulatory crackdown – are unresolved for a third-straight balance date.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
