Key Insights Star Entertainment Group's significant retail investors ownership suggests that the key decisions are...
(Reuters) -Australian casino operator Star Entertainment posted a smaller-than-expected drop in first-half profit on Thursday amid intense competition and lower discretionary spending, sending its shares sharply higher in early trade. Shares of the cash-strapped casino operator jumped more than 5% to A$0.505 by 0015 GMT, outperforming the benchmark stock index which was down 0.2%. Star posted A$25 million ($16.24 million) in normalised net profit after tax attributable for the six months ended Dec. 31, down 43% from the A$43.6 million reported a year earlier.
The Star Entertainment Group Limited ( ASX:SGR ), is not the largest company out there, but it saw significant share...