Good morning. The Star is attempting to pull itself out of a deep hole, seeking financing of some $545 million after recording a half-year loss of $861 million. The equity injection is expected to come from US firm Oaktree, extending a lifeline to a firm battling both institutional and civil lawsuits. Meanwhile, the Hong Kong Jockey Club is reeling after its soccer betting tax was increased. And US-based Caesars is in high spirits after seeing record-breaking EBITDA in the fourth quarter.

ASEAN Gaming Summit 2023

What you need to know

  • The Star is seeking urgent financing after seeing a half-year loss of $861 million, reportedly talking to Oaktree to raise $545 million in equity.
  • Hong Kong’s monopoly sports betting operator is facing an additional $1.53 billion in soccer betting tax, spread over a five-year period.
  • Caesars Entertainment saw a record-breaking fourth quarter, with EBITDA shooting up to $957 million.

On the radar


AGB Intelligence

AUSTRALIA

The Star Entertainment

The Star sees $861 million loss, seeks financing

The Star has recorded an $861 million loss in the six months ended December 31st, prompting the firm to seek a capital injection of some $545 million, reportedly from US-based firm Oaktree Capital. The loss comes despite a 579 percent yearly rise in EBITDA and revenue topping $690 million.


Industry Updates

  • MGM Resorts becomes first gaming company to sign CEO Water Mandate.
  • Bragg Gaming grows Switzerland market reach with Swiss casinos.

Meet at ASEAN 2023


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