Question

The Star Entertainment Group.

Company Description (up to 600 words)

a) What is/are the main source of business (the main source of revenue)?

b) What is the ownership structure of your company?

Answer 1

The Star Entertainment Group Company Description.

The Star Entertainment Group Limited is an Australian gambling and Entertainment company.

* The Star Entertainment Group (formerly known as Echo Entertemaint Group) is an ASX(the Australian Stock Exchange)100 listed company owns and operates The Star Sydney, The Star Gold Coast and Treasury Brisbane.The Star Entertainment Group has also acquired the Sheraton Grand Mirage on the Gold Coast in a joint venture and manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government.

On 16 November 2015 the company name changed from Echo Entertainment Group to The Star Entertainment Group.Entertainment Group’s vision to become Australia’s leading integrated resort company.

The Star Entertainment Group is committed to optimizing its properties, supporting the communities in which we operate, and capitalizing on the opportunities presented by our world-class locations in Sydney, Brisbane and Gold Coast.

On 16 November 2015, The Star Entertainment Group and its joint venture partners Chow Tai Fook Enterprises and Far East Consortium reached contractual close with the Queensland Government on a $3 billion redevelopment of Queen's Wharf in Brisbane.

The Star Entertainment Group has also entered into further joint venture agreements with its partners to expand and improve the value proposition of our properties in Sydney and The Gold Coast.

In Sydney plans for a new hotel and apartment tower have been announced involving an investment of up to $500 million. This is in addition to a further $500 million of improvements and refurbishments to The Star Sydney.The Darling at The Star Gold Coast was completed ahead of the Gold Coast 2018 Commonwealth Games.

(A) What is/are the main source of business :

* The Main sources of buinsess is gambling.Foreign high-rollers have returned to gamble in record volumes at Australian casinos operated by The Star, turning over more than $61 billion in the past year, an increase of more than 54 per cent.

The national bounce-back of big-spending gamblers from Asia an ever-important source of revenue for Australian casino operators has helped lift The Star Entertainment Group’s underlying profit by more than 20 per cent to $258 million in 2017-18.

(B) What is the ownership structure of your company?

General Public Ownership :

The general public, with a 39% stake in the company.

Private Company Ownership :

  We can see that Private Companies own 6.7%, of the shares on issue. Private companies may be related parties.

Public Company Ownership :

  It appears to us that public companies own 5.4% of SGR