BUZZ-Morningstar sees increased risk of Sydney license cancellation for Star

Reuters03-26

** Morningstar says risk for Star Entertainment's Sydney casino license being canceled has risen due to the second inquiry into its casino operations

** Brokerage says CEO Cooke's departure indicates the Australian casino operator is exploring every avenue in order to demonstrate suitability for license

** Morningstar says temporary closure of operations would be costly for co; estimates daily EBITDA hit of about A$2 mln ($1.31 mln) in the scenario

** Brokerage says complete cancellation of the license could be catastrophic

** Morningstar says Star's Sydney operations contributed to about two-thirds of co's pre-covid EBITDA

** Five of eight analysts rate the stock "buy", two "hold" and one "sell"; their median PT is A$0.59 - LSEG

** Star up 1.9% YTD, as of last close

($1 = 1.5295 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))

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