Shares in ( ) have been drifting higher lately, rising by 23% since May. Despite this recent uptick, the company's stock is still down 48% over the past 12 months. It is currently trading at 51 cents per share.
In fact, Star was one of the in FY24, according to my colleague James. But its share price has risen from a low of 40 cents on 1 May. So the question is, is there a change in the outlook, or are investors taking a punt on Star Entertainment shares? Star Entertainment shares up since May Star Entertainment has faced a tumultuous year marred by regulatory challenges and disappointing financial results.
The NSW Independent Casino Commission's into its suitability as a casino operator heavily impacted investor sentiment. This contributed to a sharp decline in the share price earlier in the year. However, recent management changes and strategic initiatives have sparked a modest recovery in Star Entertainment shares since May.
Steve McCann, the former CEO of Crown Resorts, has taken the helm at Star Entertainment, bringing with him a wealth of experience in turning around troubled businesses. The new CEO's resume includes roles at Lendlease and investment bank ABN AMRO. McCann's appointment looks to have been well-received by the market, with shares up 7.
45% since then. In his first interview as Star's boss, McCann acknowledged the significant challenges ahead but expressed confidence in his ability to steer the company towards recovery. Speaking to McCann said he was "very .
