Ensuring Brisbane casino doesn’t become an ‘eyesore’ should be a priority amid Star’s financial woes

An American casino bonuses for Australian players operator controlled by a New York hedge fund has joined the opportunists sniffing around embattled Star Entertainment Group, which is on its last legs and desperately seeking a capital injection to avoid administration. The casino operator warned that additional equity may be required as part of the refinancing of the DBC debt facility. Star first entered the deal with its the Hong Kong investors in early March, after months of warnings about its financial future — and mere prior to the bigger deal struck with Bally’s and the Mathiesons. The Australian casino deposit options Financial Review reported that the company had failed to raise the funding required to meet near-term payments, including for payroll, which puts the company at serious risk of running out of cash. After a brief trading halt on Friday morning, Star shares plunged 15.4 per cent to 11¢, valuing the company once worth $5 billion at about $315 million. Star did not name the parties that are expected to provide an offer of financing, but it has confirmed previously that US finance giant Oaktree has tried to buy out Star’s debt from its lenders.
The report concedes that some improvements have been made since 2022, including a greater level of transparency and cooperation. However, the NICC said the report underscores concerns that it was not receiving all the facts from The Star at a time when it needed certainty the company could fund and prioritise an urgent business turnaround. The casino group had already requested a trading halt on Friday after Adam Bell SC’s latest damning report covering its operations was published on the same day by the NSW Independent Casino Commission (NICC). The Sydney-based exchange issued the announcement on Monday morning after Star failed to publish its annual financial report by last Friday’s (31 August) due date.
Amcor shares are seriously undervalued according to the analysts at two major broking houses. A leading fund manager expects positive long-term growth from Guzman Y Gomez shares. Macquarie has reduced its price target for the Star Casino share price to just 24 cents per share. Much of Star’s struggles can be traced to the regulatory crackdowns it is currently facing, which are compounded by a weakened financial performance.
The half-year accounts, originally scheduled for release in February, best live dealer sites 2026 showed a steep decline in revenues, which Star attributed to the introduction of stricter payment requirements at its Sydney casino. The rules, which started in October, force patrons to use a pre-paid card, which makes gambling more difficult and reduces the risk of money laundering. Shares in struggling casino bank transfer Australia giant Star Entertainment have plummeted on Friday after a brief trading halt was lifted, as the company searches for a financial lifeline to avoid collapsing.
The company told shareholders on Friday that it would halt trading and publish its full-year results later in the day. That’s while it “considered the implications” of a damning report by New South Wales (NSW) regulators that found it was still unsuitable to hold a gaming license for its flagship Star Sydney property. Star is preparing to announce a $1.4bn write-down of its casino assets and a major cost-cutting programme, the Australian casino top 20 Financial Review reported on Monday.
Undoubtably the presence of Crown Sydney results in a concession of market share from Star. It is approximated that Star will concede 30% of its table revenue within three years and 60% of VIP share by fiscal 2028. Nonetheless, the new competitive environment will necessitate improvement in both players and expand the Sydney VIP and premium gaming markets. Unless specified all financial data is based on a yearly period but updated quarterly.
He said he would not like to see the company go into liquidation “for the people’s sake”. “To me, it has been a disaster dealing with the management of Star and I think … there is no doubt the board should be blamed for how bad it is,” he told ABC Radio Brisbane. “What we would want to see is the government work to make that process as quick as possible, while still ensuring that any new operator is compliant with the regulations and the legislation.” He said the government would also need to move quickly to approve a new operator should there be a sale. Mr Jones said in the event Star did go into administration the union would want the state governments to work quickly with the administrator and existing lenders to ensure the administration was funded and the doors stayed open.
Oxfam’s latest inequality report has found the world’s top 10 richest people (all men) made a whopping $150 million a day last year. It found that half of those using account-based pensions draw their super down at the legislated minimum rate. The ABC’s resident economics guru Alan Kohler has hammered out this piece, the first of what will be a weekly column on Mondays this year, on the entrenched US exceptionalism and its extraordinary productivity gains in recent times.