Thursday, January 23, 2025

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Queensland Premier wants to keep The Star property open if employment is ensured

Queensland’s Premier is potentially extending an olive branch to embattled Australian gaming operator The Star, but also stating that the operator had not kept its promises to the state.

Daily Asia Gaming eBrief: The Star’s ability to continue a going concern

The Star isn’t shining quite as bright as it used to. The group now says that its ability to continue is a going concern, as it struggles to draw in more capital from investors, unlock a new tranche of loans, and pray for government tax rebates. Meanwhile, in Macau, Chinese New Year is again set to bring a wave of tourists, however, hotel room rates are expected to fall when compared to previous Golden Weeks. But for the whole of 2025, GGR in the world’s gambling hub is set to increase, with analysts expecting a moderate single-digit rise driven by mass.

The Star’s HK-listed Queen’s Wharf partners in town to discuss financial lifeline: report

The Hong Kong-listed partners of embattled Australian gaming group The Star are in Queensland to discuss the future of their joint venture in Queen’s Wharf Brisbane, as the company struggles to secure a financial lifeline.

The Star: ‘material uncertainty as to the group’s ability to continue as a going concern’

Embattled Australian casino operator The Star has acknowledged that ‘there remains material uncertainty as to the Group's ability to continue as a going concern’.

The Star seeks tax rebates as it goes into safe harbor to protect executive decisions

Embattled Australian gaming group The Star has again gone hat in hand to the governments of New South Wales and Queensland to request tax relief as it struggles to stay afloat amongst a cash crisis.

Macau-based investor further ups The Star stake, voting power now at 6.52%

The Macau-based investor who recently upped their stake in Australia’s The Star Entertainment Group has further increased their shareholding, now gaining 6.52 percent of the voting power of the company.

Macau-based investor now holds over 5.5% voting rights in The Star

Australia’s The Star Entertainment Group has announced that a Macau-based investor has increased their stake in the company so that they now hold 5.52 percent of voting rights.

The Star Entertainment could face voluntary administration: Media

Star Entertainment may face voluntary administration within months, as lenders doubt the company's ability to secure a lifeline investor, according to the Australian Financial Review.

The Star exploring ‘liquidity solutions’ as available cash plummets further

Australia’s The Star Entertainment Group has seen a significant reduction in its available cash, dropping to AU$70 million ($43.56 million) as of December 31st, 2024.

The Star appoints Frank Krile as new Group Chief Financial Officer

The Star Entertainment Group has announced the appointment of a new Group Chief Financial Officer, Frank Krile.

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