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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 […]
Business
September 26, 2024
Star Entertainment’s Financial Struggles Continued in FY 2024
The Star Entertainment Group published its financials for the fiscal year, reporting a continued decline amid business and regulatory headwinds. However, the company management remains focused on demonstrating its compliance and generating shareholder value. The Star’s Financials Were Suboptimal Star Entertainment reported FY 2024 revenue of almost AUD 1.7 billion ($1.17 billion). This figure represented […]
Casino
September 13, 2024
Star Entertainment Faces Pressure to Address Major Compliance Failures
Star Entertainment Group is under heavy pressure from regulators about its main Sydney casino. The New South Wales Independent Casino Commission (NICC) has given the company 14 days to come up with a plan, reported Bloomberg. This plan needs to show how Star will fix its money and operational problems. This comes after a harsh […]
Business
September 12, 2024
The Star Entertainment to Receive $100M from Lenders
The Star Entertainment Group is set to receive more backing from its lenders amid the financial trouble it faces. The Australian casino and hospitality giant has been offered AUD 150 million to deal with the issues and stabilize its business. The Star Entertainment Is Struggling Financially The lenders proposed providing AUD 150 million ($100 million) […]
Casino
September 10, 2024
The Star Sells Iconic Treasury Building Amid Financial Struggles
The Star Entertainment Group has sold its leasehold interest in Brisbane’s historic Treasury Building to Griffith University. This AUD67.5 million ($45 million) agreement signals a big change for The Star and the university. The casino company aims to raise much-needed money, while Griffith University plans to turn the landmark into a major place of learning. […]
Business
September 5, 2024
Star Entertainment’s Financial Woes Deepen despite Queens Wharf Opening
The troubles for The Star Entertainment, Australia’s leading casino operator, continue after its recent suspension from trading on the ASX, the country’s primary stock exchange. The unexpected move came after the operator missed the deadline to submit a financial report last week. The announcement came just after the company opened its new venue in Queensland, […]