How much is Star’s Sydney casino worth? Just $8m, says Barrenjoey
Star Entertainment’s flagship Sydney operation could be worth just $8 million, according to an analysis by Barrenjoey Capital Partners, the investment bank once engaged by the troubled casino group to sell the complex.
In a note to his clients, Barrenjoey broker Matt Ryan said the company’s hotel business alone – it has properties in Sydney, Brisbane and Gold Coast – could be worth more than $1 billion. That was without other assets including convention centres, entertainment venues and restaurants.
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