2117 GMT - Jefferies expects an ongoing focus on Star Entertainment's balance sheet. In a note, analyst Simon Thackray says risks remain around the debt refinancing for Star's Queen's Wharf Brisbane precinct, the QWB retail offering and the impact of the introduction of cashless gaming in New South Wales from August. "Liquidity is exhausted by the end of FY 2025 absent project financing for Epsilon, a better start for QWB and a material improvement in trading even after assuming A$180 million net proceeds for the Treasury complex (2H25)," he says. Jefferies retains a hold call on Star, but cuts its price target by 4.1% to A$0.47/share. Star ended last week at A$0.52. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 03, 2024 16:17 ET (21:17 GMT)
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