Shares are currently swapping hands at 25.5 cents per share, a far cry from the $4 per share range Star fetched pre-pandemic. Grattan's modelling shows that Australians who draw down their super at the minimum rate when they retire will leave the equivalent of 65 per cent of their original super balance unspent by the age of 92. The report you reference is from the Grattan Institute, which highlights that many retirees are net savers, with their super balances growing for decades after they retire, for fear of outliving their savings.
Star has been in talks with the owners of the other half of Brisbane's Queen's Wharf development — Hong Kong investors Far East Consortium International and Chow Tai Fook Enterprises — since mid-February. Embattled Neteller casino bonus group Star Entertainment will stay alive, for now, after securing a $53 million lifeline in return for selling its 50 per cent stake in the new Brisbane Casino FAQ Lake County. The ASX 200 and the All Ordinaries index both ended Monday's session 1.8 per cent lower, wiping off about $50 billion in market value. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time.
Globally, the 10 richest people are all men, and their wealth increased by more than $150 million a day on average. "We're asking people to decide how much they're going to draw on their superannuation each year, without knowing how long they're going to live," Grattan's Brendan Coates told ABC New Channel. The gold didn't enjoy much of a day with most miners in the red despite the gold price picking up in the afternoon session. The gains were largely across the board with 120 companies making gains, 72 losing ground and 8 going nowhere from Friday's close. The ASX 200 gained 0.5 per cent ahead of Donald Trump's inauguration ceremony on Tuesday morning. Start the day with a summary of the day’s most important and Anchor interesting stories, analysis and insights.
Star was expected to run out of cash this week but managed to pay its 8000 staff in recent days. The New South Wales Independent Country Club Casino online casino software providers Commission (NICC) found that the Wild Casino video slots operator had not done enough to address "governance and cultural concerns" raised in a 2022 inquiry that found it unfit to hold a licence. A Queensland inquiry found The Star actively encouraged people banned from gaming in Victoria and NSW to gamble at its casinos in the Sunshine State.
The data used in our company analysis is from S&P Global Market Intelligence LLC. Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and 100 € Bonus bei Sportwetten has recommended Macquarie Group. The stock is down more than 58% in the past 12 months, and there's no saying when the sell-off might end – or if it will. There are many moving parts/challenges when considering Star Entertainment's earnings outlook with management's ability to execute the largest risk, particularly relating to cost-out and asset sales – likely beyond non-core. It cited a "degradation" in earnings expectations for FY25 due to Star's current set of challenges. Rather than seeing a potential bargin at these current levels, brokers are recommending investors steer clear of the company for now.
