Star & Crown – Trading Update

Crown’s trading update was weaker than expected as main gaming floor revenue was down 0.6%.

Non-gaming revenue growth was 3.5%, while VIP turnover growth was up 13%.

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Star Entertainment showed domestic revenue growth of +6.7% but VIP growth disappointed with it coming in flat on the prior period.

Crown looks like good “value” at $12 and is supported by a current ALGO Engine buy signal.

Aristocrat (ALL:ASX) is also looking well supported near the $26 range.

 

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