BUZZ-Crown's results show revenue, cost control possible for Star, says Jefferies

Reuters05:54

** Analysts at Jefferies say earnings of Blackstone-owned

casino firm Crown Resorts suggest that revenue and cost stabilisation is possible at Australia's Star Entertainment

** Brokerage says Crown's earnings at its Sydney/Perth operations are encouraging

** Says Crown's results show that once Star continues on the remediation path and has strategic bandwidth to address revenue initiatives, the embattled casino operator can expect operating improvement

** Asset sales continue for Crown and provide a read for what SGR could contemplate — Jefferies

** Brokerage adds Crown provides an interesting guide for SGR, given Crown has progressed further in its remediation in our view

** Stock has fallen 47.6% YTD, as of last close

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))

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