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Business
July 7, 2025
The Star Entertainment’s DBC Exit HoA Deadline Extended to July 31
Australian gaming and hospitality giant The Star Entertainment Group Limited has published an Australian Stock Exchange (ASX) update on its planned Destination Brisbane Consortium (DBC) exit. According to the company, it has reached an agreement with its joint venture partners, Chow Tai Fook Enterprises Limited and Far East Consortium International Limited, to extend the termination […]
Casino
July 7, 2025
Star Brisbane Workers Walk Out Due to Pay Fight and Financial Concerns
Employees at The Star Brisbane casino quit work for two hours on Friday, escalating their pay and job conditions fight as the troubled casino company faces bigger financial problems. Star Brisbane Employees Walk Out During Friday Rush, Citing ‘Unfair’ Pay Offer Workers from many areas, like gaming, food service, and cleaning, left their jobs from […]
Casino
July 7, 2025
Bally’s Might Drop Star Entertainment Rescue Plan Due to Regulatory Risks
The US casino company Bally’s Corporation has expressed major worries about its planned bailout of Australia’s Star Entertainment Group. It warns it may pull out if regulators slap a big fine on Star. Bally’s Warns $300M Star Rescue Hinges on AUSTRAC Fine Outcome Bally’s chairman Soo Kim said the $300 million rescue deal, which Australian […]
Business
June 30, 2025
Star Entertainment’s DBC Exit in Peril as Partners Seek to Terminate the Arrangement
The Star Entertainment Group has published an update related to its earlier decision to exit its equity interest in Destination Brisbane Consortium (DBC). The company noted that since the conditions of its binding heads of agreement (HoA) were not met, its joint venture partners have submitted a notice to terminate the arrangement. The Star’s Partners […]
Business
June 25, 2025
The Star Entertainment’s Shareholders Give the Go-Ahead to Bally’s AUD 300M Lifeline
The Star Entertainment Group just held its General Meeting. Among other important developments, the Australian casino & hospitality giant secured shareholder approval for Bally’s AUD 300 million rescue proposal. Shareholders Greenlight Bally’s Aid In April, The Star revealed that it had entered into a binding term sheet with Bally’s Corporation with respect to a multi-tranche […]
Business
June 24, 2025
The Star Overhauls Team with Multiple Appointments
The Star Entertainment Group Limited, an Australian gaming giant, has unveiled major changes to its leadership team. The new appointments come amid continued regulatory and financial difficulties for the company. The Star Introduced Changes to Its Group Leadership In an ASX filing, The Star announced what it called a “series of executive management and subsidiary […]
Casino
June 6, 2025
Star Entertainment on the Brink Again After AUSTRAC Floats AU$400M Fine
Star Entertainment has been teetering on collapse for many years now. After Bally’s Corporation agreed to throw a lifeline to the company, offering an AU$300-million stake buyout and the promise of turning things around, there is one issue that neither company has accounted for – the Australian financial regulator’s proclivity for upholding the letter of […]
Business
May 27, 2025
The Star Entertainment Encourages Shareholders to Approve Bally’s Proposal
As The Star Entertainment Group’s next General Meeting approaches, the company asked its shareholders to consider Bally’s Corporation’s proposed takeover. The company leadership encouraged investors to greenlight the deal, highlighting that no better opportunity exists at the moment. The Star Shareholders to Vote on Bally’s Proposal In an ASX release published yesterday, The Star Entertainment […]
Casino
May 15, 2025
Bally’s Remains Confident about Future of Star Entertainment
Bally’s Corp’s play for Star Entertainment has been a well-weighted decision, argues the company’s boss, Robeson Reeves, who took the opportunity to comment on the recent investment in the operator, with the company coughing up $129 million in April to prop up the cash-strapped hospitality giant. Bally’s is Optimistic about Star Entertainment’s Fortunes Despite Difficulties […]
Business
May 1, 2025
Star Entertainment Announces Losses in Third Quarter
Earlier this week, the Star Entertainment Group explained it had swung to an operating loss in the third quarter, which ended on March 31. Star Entertainment Announces Concerning Trends The company posted a loss of A$21 million ($13.41 million) in earnings before interest, taxes, depreciation, and amortization (EBITDA), excluding significant items, compared to an EBITDA […]