Star Entertainment CEO on Results, M&A, Virus

The transcript discusses the impact of the Delta variant on Sydney's lockdown, financial strategies including asset disposals, and the Crown merger talks. It highlights the business outlook amid COVID-19, emphasizing financial resilience and vaccination plans. The discussion covers regulatory challenges, travel intentions, and the importance of maintaining liquidity.

What was one of the main challenges faced during the first lockdown in Sydney?

• High vaccination rates

• Lack of a clear end date

• Stable economic conditions

• Increased travel opportunities

What is the company's approach to asset management?

• Avoiding any property sales

• Implementing a sale and leaseback arrangement

• Investing heavily in new properties

• Focus on asset-heavy models

Why was the merger proposal with Crown pulled?

• Changes in the perceived value of Crown

• Lack of interest from Crown

• Regulatory approval was granted

• COVID-19 related issues

What factor has not significantly changed the relative valuations of the company and Crown?

• COVID-19

• Regulatory inquiries

• Travel restrictions

• Market trends

What is the company's stance on staff vaccinations?

• Not addressing vaccinations at all

• Encouraging vaccinations but not mandating

• Providing financial incentives for vaccinations

• Mandating vaccinations for all staff

How has the company prepared for financial challenges during the pandemic?

• By creating a liquidity buffer

• By increasing costs

• By reducing staff numbers significantly

• By halting all development projects

What is the company's outlook on the reopening of borders?

• Indifferent to border reopening

• Optimistic about attracting customers back

• Pessimistic about future travel

• Concerned about losing market share