- Casino
- By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- By State
- Slots
- Poker
- Sports
- Esports
Fact-checked by Velimir Velichkov
Star Entertainment Divests Non-Core Assets as Search for Liquidity Continues
The buyer, Foundation Theatres, has put forward $60 million for the transaction, subject to settlement adjustments

The Star Entertainment Group announced that it selling non-core assets as the group desperately seeks to secure its financial position.
Star Sydney to Divest Its Event Center
In a release submitted to the ASX, the Australian casino and hospitality company confirmed that its New South Wales-facing branch, The Star Entertainment Sydney Properties, has secured agreements to sell some assets deemed to be non-core to the company’s business.
According to the announcement, these include The Star Sydney Event Center, as well as other additional spaces within The Star Sydney complex. The buyer, Foundation Theatres, has put forward $60 million for the transaction, subject to settlement adjustments.
Star Entertainment noted that the deal is still subject to the finalization of long-form transaction documents and certain customary conditions, such as government and regulatory approvals.
Star Entertainment clarified:
Foundation Theatres will pay a $60 million exclusivity fee in respect of the transaction into escrow on or before 31 January 2025 which will be released to The Star as consideration for the disposal subject to finalization of the long-form transaction documents and satisfaction of conditions.
Star Entertainment statement
The Star Is Happy to Sell the Assets to Foundation Theaters
Once the transaction has been completed, the consideration amount will be held in the group’s disposal proceeds account, which has been created under the terms of Star’s debt facility. It will notably constitute restricted cash.
The Star CEO Steve McCann commented on the matter, saying that his team is pleased to partner with Foundation Theaters.
The Star has worked closely with the team at Foundation Theatres since they acquired the sublease for the Sydney Lyric in 2011. We are pleased to partner with them as part of the continued evolution of our broad entertainment offerings at The Star Sydney.
Steve McCann, CEO, The Star
Star Entertainment expects to close the deal by February 28, 2025. McCann added that, in the meantime, the company is exploring sales of other non-core assets.
The Company’s Financial Trouble Worried Investors
The announcement comes shortly after Star Entertainment published its financial report for the second quarter of the fiscal year. In its report, the company outlined “limited” opportunities to raise funding in the absence of liquidity solutions.
The group’s overall metrics continued to decline amid economic and regulatory setbacks. While the company’s operating expenses also decreased due to the closure of Treasury Brisbane, Star Entertainment confirmed that fulfillment of its conditions for drawing the second tranche of its new facility remains elusive. The company confirmed that it is seeking external advice.
In any case, the company’s mixed results and precarious position have had a negative impact on its shareholders’ trust. Investors have gradually been losing tolerance, despite the leadership’s calls for patience. The rapid decline in the company’s available cash between September 2024 and December 2024 did little to improve this trend.
As a result, The Star’s shares have taken multiple blows, although the past few days have seen a slight rebounding.
Related Topics:
Angel has a passion for all forms of writing, be it fiction or nonfiction. His curious nature gives him an ace up his sleeve when researching a new topic. Angel’s thirst for knowledge, paired with adaptability, always helps him find his way around.
Previous Article
Business
January 29, 2025
Indiana iGaming Bill Picks up Speed, Enjoys Bipartisan Support
Must Read
Business
September 11, 2025
Playtech Posts Solid H1 Results “Ahead of Expectations”
Business
September 11, 2025
Caesars’ Online Business Could Be Worth More Than Parent Company
Business
September 12, 2025
Webis Holdings Forms Strategic Partnership with XST Capital Group
More Articles
Business
September 16, 2025
Entain Reports Improvements Across the UK, US, and Brazil
Business
September 16, 2025
Evoke Adds Siddharth Dixit as Chief Strategy and Transformation Officer
Business
September 16, 2025
MIXI Consolidates Its PointsBet Shareholding, Increasing It to 66.43%
Business
September 16, 2025
Kaizen Gaming Hires HR Powerhouse as Chief HR Officer
Industry
September 15, 2025
Rumors Say Polymarket Considers $9B Valuation While Kalshi Targets $5B
Business
September 15, 2025
Bragg Gaming Secures New Financing Deal to Boost Growth
Business
September 15, 2025
ATG Encourages Shareholders to OK Novomatic’s Takeover Bid
Business
September 12, 2025
Webis Holdings Forms Strategic Partnership with XST Capital Group
Business
September 12, 2025
Flutter Names Stefan Bomhard Non-Executive Director