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Business
January 13, 2025
Star Entertainment Risks Going Bust, Putting Thousands of Jobs on the Line
Star Entertainment Group, a big name in Australia’s casino and hotel business, stands on the brink of going broke. With just $79 million in the bank and growing problems, including fewer customers and over $100 million in fines from regulators, the company might run out of money in a month and a half. Brisbane’s $3.6B […]
Business
January 9, 2025
Star Entertainment Shares Drop as Company Reports Decline in Cash
The Star Entertainment Group, an Australian casino and hospitality company, remains in peril amid regulatory and financial challenges. The company, which was extensively scrutinized over regulatory violations, negligence and overall lack of oversight, continues to see its share price plummet. The Company Reported a Drastic Drop in Available Cash Yesterday, the group, which is trading […]
Casino
December 24, 2024
JPMorgan Sells Stake in Star Entertainment as Problems Grow
JPMorgan Chase & Co. has sold its stake in Australia’s Star Entertainment Group, according to a regulatory filing on December 23, 2024. This move is big news for the investment bank, which used to own 5.09% of the casino operator’s voting shares. JPMorgan made this choice while Star Entertainment faces financial troubles and regulatory hurdles. […]
Legal
December 17, 2024
Australian Operators Face Lawsuits for Dealing with International Fugitive
The Star Entertainment Group and Crown Resorts, two Australian casino and hospitality powerhouses, are facing lawsuits for their past dealings with Michael Gu, an international fugitive who was behind one of Australia’s biggest Ponzi schemes. Gu Defrauded Investors of Millions of Dollars Michael Gu, for context, described himself as a high-end property developer. As the […]
Industry
December 6, 2024
Queensland Defers The Star Gold Coast’s License Suspension
The new Queensland government has decided to defer The Star Gold Coast’s license suspension by a few months, providing the Australian casino giant with more time to apply its remediation measures. This decision will provide The Star Entertainment Group with a short breather amid a difficult period. The Star Gets a Few More Months to […]
Business
November 28, 2024
Star CEO Highlights Progress, Asks Shareholders for Patience
Star Entertainment, the recognizable gaming operator in Australia, continues to face challenges and asked shareholders for patience until the business completes its transformation and starts to return value. Those were some of the takes of the company’s recent annual general meeting which took place on Thursday in Brisbane. The Company Remains Dedicated to Transformation Steve […]
Business
November 22, 2024
Star Entertainment Confirms the Execution of $130M Debt Facility
Australian gaming and hospitality giant The Star Entertainment Group unveiled a new debt facility amid a challenging period for the company and continued regulatory scrutiny. The Debt Facility Will Help the Company Get Through the Struggles In a filing to the Australian Securities Exchange (ASX), the company announced that it has executed a commitment letter […]
Casino
October 18, 2024
Star Entertainment Keeps Sydney Casino Open Amid Regulatory Challenges
Star Entertainment, Australia’s second-biggest casino operator, can keep its Sydney casino running even though it still faces regulatory problems. Star Casino’s Regulatory Oversight Extended Until 2025 Amid Ongoing Compliance Issues The New South Wales Independent Casino Commission (NICC) slapped the company with a big fine of AUD15 million ($10 million) because it kept failing to […]
Business
October 8, 2024
JPMorgan Acquires Stake in Australia’s Star Entertainment
JPMorgan Chase & Co. has bought a big chunk of Star Entertainment Group, an Australian casino company that is having money troubles. JPMorgan Buys 5.47% of Star Entertainment as Casino Operator Battles Regulatory Scrutiny A new report shows that JPMorgan now owns 5.47% of the company’s voting shares, which means it is getting more involved […]
Business
September 30, 2024
Star Completes Treasury Brisbane Casino Sale, Shares Rise 18%
At the end of last week, we reported that Star Entertainment was forced to return to the negotiation table alongside creditors to deal with its reported AU$1.69 billion ($1.08 billion) annual loss and the overall shaky ground projected for the new financial year. Now, the group that recently sold its leasehold interest in the historic […]
