Good morning. The Star’s desperate attempts to avoid administration have been successful, so far, with the offloading of its stake in Queen’s Wharf Brisbane a well-calculated gamble to keep the company afloat. And Queensland authorities are likely to approve of a transfer of the casino license, given the weight of the project. Meanwhile, Thai authorities are delaying a final review of its casino bill, aiming to get all the elements right, even as protests against the bill continue. And in the Philippines, former President Rodrigo Duterte has been arrested over warrants from the International Criminal Court.
What you need to know
- The Star’s sale of its Queen’s Wharf stake helps lighten its debt load, while consolidating its Gold Coast position, says expert.
- Thailand’s Cabinet delays final decision on controversial casino bill, citing need for comprehensive review and public consultation.
- Former PH President Rodrigo Duterte has been arrested due to an outstanding International Criminal Court warrant.
On the radar
- Bloomberry to launch new online platform, announces 2024 dividend.
- Suzy Neilan named as new VGCCC CEO.
- Sri Lanka urged to accelerate Casino Regulatory Authority establishment.
- Recruitment should follow Macau gaming operators’ mandates: legislator.
AGB Intelligence
AUSTRALIA
The Star’s offloading of Queen’s Wharf cuts debt, consolidates Gold Coast
Just as The Star seemed destined for administration, the negotiation of the sale of its stake in Queen’s Wharf Brisbane to its joint venture partners Chow Tai Fook and Far East Consortium has saved it, offering a cash injection and greatly cutting its debt load. Queensland authorities will likely feel the pressure to approve the change in the casino’s management, says expert Ben Lee, given how essential the gaming floor is to the success of the multi-billion dollar project.
Industry Updates
- Slotegrator partners with SimplePlay to expand presence in Asia.
- QTech Games wins Best B2B Digital Platform at the 2025 SPiCE awards.
- Sands China highlights talent development milestones at The Londoner.
Corporate Spotlight
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