BUZZ-Star Entertainment's door to sustainability is ajar, says Morningstar

Reuters10-18

** Analysts at Morningstar say New South Wales's casino regulator has left the door open for Star Entertainment to return to "suitability" in Sydney, which is crucial

** Star will be able to keep its struggling Sydney casino open but has been ordered to pay a fine of A$15 million ($10.05 million), the New South Wales state gaming regulator says

** Brokerage says the second Bell inquiry's recommendations to the casino regulator were about as good as Star could have reasonably hoped for

** While Star remains unsuitable to hold its casino license, the regulator has stopped short of revoking it completely — Morningstar

** Brokerage keeps very high uncertainty rating on the stock and asks investors to apply a "wide margin of safety"

** Star needs to prove suitability to operate its casinos and recovery of earnings is highly uncertain, Morningstar adds

** Stock has fallen 43.7% YTD, as of last close

($1 = 1.4932 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))

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