2148 GMT - To avoid an equity raise, casino operator Star Entertainment needs to find A$400 million in funding on top of the A$300 million that it expects to raise from asset sales, Jefferies says. That would lower gearing to 2x net debt-to-Ebitda, from 4x in FY 2027 if the asset sales happen. "Given gearing levels, Star may be forced to contemplate significant strategic decisions such as a divestment of Queen's Wharf Brisbane equity or other key assets, which we expect would come with their own regulatory hurdles," analyst Kai Erman says. Jefferies has an underperform call on Star. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 17, 2024 17:48 ET (21:48 GMT)
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