The Star Entertainment Group is planning a second development application at its waterfront site in the Sydney suburb of Pyrmont, this time for a two-tower, six-star hotel that would cost approximately A$1 billion (US$720 million).
The Star Reignites Pyrmont Plans with Dual Tower Proposal (The Urban Developer)
From India to Australia, casinos across the Asia Pacific region have closed their doors in response to efforts to combat the spread of the coronavirus, with little to no visibility at present as to the evolution of the situation.
Credit Suisse believe it's time to examine the possibility of a Crown-Star tie up in light of both companies' reduced revenue from the pandemic and China's clampdown on overseas gambling activities.
Star Entertainment Group said its domestic gaming revenue in July reached 80 percent of the prior calendar year and that investment in its properties will enhance long-term growth potential.
The Star casino in Sydney has been fined A$5,500 (US$3,831) for breaching public health orders after patrons were seen “standing and mingling between groups” on Saturday night, local media reports. The fine was issued by Liquor and Gaming NSW and is the second fine to be issued by the enforcement agency after Double Bay’s Golden […]
The state government of Queensland posted a statement on Saturday indicating that it was suspending negotiations with the Star Entertainment Group over a proposed thirty-year exclusivity deal. State Development Minister Kate Jones declared, “Through the exclusive negotiation process for a Gold Coast Global Tourism Hub we worked really hard to extract value from The Star, […]
Half of the slot machines were in operation on the first day of opening to the general public of Star Entertainment’s property in Sydney, though business appeared to be brisk, according to analysts at J.P. Morgan.
Star Entertainment says it moves to the next stage in reopening at its Sydney property from Wednesday, whilst casinos in Queensland get ready to open their doors from Friday.
The Star Entertainment Group, required by the Australian government to suspend its operations since March 23, has provided an update of its activities, including an estimate of its cash burn during the enforced shutdown. In a statement to the Australian Stock Exchange on Thursday, Star offered the estimate that a three-month shutdown until June 30 […]
The Star Entertainment Group, forced by government Covid-19 directives to cease gaming, banquet, and F&B operations in Sydney, Gold Coast, and Brisbane, leaving only limited hotel services, has announced that it was standing down about 90% of its workforce. A company statement explained, “The Star has taken a very difficult, but necessary, decision in relation […]
Australia’s casinos are expected to be forced to close their doors later this week, prompting analysts at JP Morgan to slash their earnings forecasts for the operators.