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Casino
October 12, 2021
Star Entertainment Considering Sale-Leaseback of Star Sydney
Star Entertainment might be looking to make a deal for its Star Sydney casino. Sale-leaseback arrangements have become hugely popular in the casino industry around the globe, and the Australian casino operator is reportedly considering a deal that would make investment management firm Blackstone very happy. It doesn’t, however, sit very well with Star’s investors. […]
Legal
September 22, 2021
Flutter Ends a Decade-long Legal Battle with Kentucky
A decade-long battle between the Stars Group, before its acquisition by Flutter, with the Commonwealth of Kentucky ended today. Flutter agreed to pay Kentucky $200 million in addition to a previously forfeited $100 million. The legal dispute dates back a decade when PokerStars allegedly offered online poker in Kentucky which was at odds with UIGEA. […]
Legal
July 26, 2021
Former Baccarat Dealer at Star Sydney Gets 2 Years in Prison over Betting Scam
After participating in a gambling scam last year, a former Star Sydney employee was sentenced to two years’ imprisonment. The baccarat dealer, together with two accomplices, cheated the property out of $368,000 in 2020. Former Baccarat Dealer at the Star Sydney Involved in a Betting Scam A former baccarat dealer, previously employed by the Star […]
Casino
July 23, 2021
Star Entertainment Shies Away from Crown Resorts Takeover
Star Entertainment is no longer entertaining the idea of a Crown Resorts takeover. On paper dubbed a merger, any action by Star to integrate Crown’s operations into its own would have put the latter’s brass on notice that their days were numbered. However, seeing that Crown continues to face more scrutiny across Australia and may […]
Industry
June 25, 2021
Australia’s Gaming Industry Likely to Undergo Monumental Changes
If any good is coming out of the debacle surrounding Crown Resorts in Australia, it’s that the country’s gaming regulations are likely to be tweaked. Fitch Ratings has weighed in on what is happening in Australia with Crown and Star Entertainment, as well as the gaming industry, in general, and believes that the screws are […]
Casino
June 22, 2021
Star, Crown Resorts Meet over Potential Merger
As Crown Resorts continues to fend off an assault on its reputation and viability as a casino operator, a number of companies haven’t wasted time approaching it to offer potential buyout deals. Oaktree Capital Group and the Blackstone Group were seen as the largest contenders, especially because of their deep pockets, but then Australia’s own […]
Casino
June 2, 2021
Star Entertainment Improves Parental Leave Policies
Star Entertainment Group increases parental leave from 10 weeks to 16 weeks, effective immediately. Star Entertainment Group Increases Parental Leave Time Star Entertainment Group has announced the implementation of a new parental leave policy. The company will increase parental leave for new parents. According to the company, this is an efficient, flexible, and family-friendly decision. The […]
Casino
May 17, 2021
Crown Resorts Might Be Seriously Considering Merger with Star Entertainment
It appears that The Blackstone Group is going to have to head back to the boardroom if it wants to make a play for Crown Resorts. After Star Entertainment Group stepped in with a proposal that would see Crown and Star merge, Blackstone tried to sweeten the pot, but it apparently isn’t enough. Crown’s board […]
Business
May 10, 2021
Crown Resorts Has a New Suitor as The Star Entertainment Offers a Deal
It took a while, but The Star Entertainment Group has finally decided to step forward and offer a deal to purchase the beleaguered Crown Resorts. The casino and hospitality company has submitted a formal proposal to buy out Crown for $7 billion (AUD$9 billion) in an all-stock deal to compete against existing bids by the […]
Business
February 19, 2021
The Star’s Half FY2021 Performance Impacted by Restrictions
The Star Entertainment Group announced in a filing to the Australian Stock Exchange (ASX) its report for the half financial year 2021 ended December 31, 2020, posting statutory revenues of AU$741.4 million. Material Impact on the Business The 29.6% slump in revenues was mainly due to the casino property closures and coronavirus-induced restrictions on the […]