The last time the casino group published accounts, it was fresh off the second of two equity raisings and flush with cash. Yet attention is back on its financial strength.
Steve McCann knew The Star Entertainment Group had plenty of urgent problems, but the one he didn’t expect was cash.
The last time Star published accounts, it had $171 million more cash than debt, access to a further $150 million credit if required, no refinancing due until FY28, a shrinking capital expenditure profile and “a more flexible” covenant package. The balance sheet was reset twice last year.
Loading...
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
