Recently, Macquarie and JPMorgan and Morningstar have attracted attention due to the difference in data analysis of Star casino’s profit prospects.
According to Macquarie’s data, the income forecasts of analysts who are most bullish and bearish on this struggling casino company differ by AUD 157 million, with an average of AUD 353 million. Macquarie stated that the tax revenue collected by New South Wales from Star’s large casino complex in Sydney is imminent (the state council has not yet passed the tax), which is the main reason for this difference.
Other factors include: competition and regulation with cross-harbor competitor Crown Sydney; hiring governance teams and cutting business departments to comply with legal costs; and the opening of the Brisbane Queen’s Wharf to replace Treasury Brisbane. Previously, this legal news summary mentioned that Star has just completed an AUD 800 million equity financing to support its survival in large fines and possible higher taxes.