Leon Hinde

Sorry, but this content is restricted to our members.

Please login with your account or register for a free trial. If your trial has expired, then you may renew it here.

If you are having an issue with your account, then please get in touch with us.

The trading update was about resetting the market’s expectations for recovering gross margins.

If CSL trades at 25x FY25 expected earnings the fair value estimate shifts to $320. This is down from previous targets but still highlights the value in buying CSL on any pullback.

The Queen’s Wharf Brisbane’s progressive opening is now expected in April 2024, a four-month delay from the previous opening date in December 2023.

The A$2.9bn development will replace Treasury Casino. From an ownership perspective, Star Ent. has 50% economic interest in Queen’s Wharf Brisbane and will also receive a management fee for operating the integrated resort.

SGR needs to trade through $1.17 to reverse the current negative momentum.