After Soo Kim, the chairman of the American gaming company Bally’s, took over as the chairman of Australia's Star Entertainment Group, he planned a deep structural reform, including dismantling the central corporate structure and strengthening property-level management to alleviate the group's long
The Australian gambling giant Star Entertainment Group, mired in a debt crisis, has reached a critical turning point as its Hong Kong partners, Chow Tai Fook Enterprises and Far East Consortium, agreed to extend the deadline for the Brisbane Queen's Wharf casino transaction to July 31, allowing more
Australia’s Star Entertainment Group is said to have asked US casino operator Bally’s to increase its AU$250 million (US$158 million) offer to acquire a controlling stake in the company as it continues to explore options to avoid going into administration.The Australian Financial Review reports that
Australia’s Star Entertainment Group said Tuesday it has extended by a week an exclusivity and process deed with private equity firm Salter Brothers Capital while the two companies continue working on a debt refinancing package for the troubled casino operator.The original exclusivity period had bee
Recent rumors suggesting that U.S. private equity giant Blackstone could make a move to acquire Australia’s ailing Star Entertainment Group echo similar talk that has been doing the rounds across the industry over the past few months, particularly since Star revealed that it is on the brink of going
David Crisafulli also suggested tax negotiations could be on the table.Australia.- Amid The Star Entertainment Group’s financial crisis, David Crisafulli, the premier of Queensland, has said he is open to discussing possible tax relief to prevent job losses and has suggested Star venues could be tak
Australia’s Star Entertainment Group on Monday reiterated the existence of considerable uncertainty around its ability to continue as a going concern, noting that avenues through which it can raise much-needed liquidity are “limited”.A little over a week since revealing it had burned through a large
Gaming machine gross revenue was AU$322.8m (US$203.6m).Australia.- DWS Hospitality Specialists has reported thatgaming revenue in Queenslandin December was up 9 per cent in year-on-year terms toAU$322.8m (US$203.6m). The figure was up 2.15 per centsequentially. Clubs’ market share was 44.2 per cent
Xingchun Wang, a Macau-based investor, has reportedly become Star Entertainment Group’s second-largest shareholder.Australia.- Xingchun Wang, a Macau-based investor, has reportedly become the second-largest shareholder in Star Entertainment Group after acquiring nearly 158.3 million shares between S
Revenue for the fiscal year 2024 was AU$1.67bn (US$1.13bn).Australia.-TheStar Entertainment Group has shared financial results for its fiscal year 2024. Revenue declined 10 per cent in year-on-year terms from AU$1.86bn (US$1.26bn) to AU$1.67bn (US$1.13bn). The company attributed this to cost of livi
Revenue for the fiscal year 2024 was AU$1.67bn (US$1.13bn).Australia.-TheStar Entertainment Group has shared financial results for its fiscal year 2024. Revenue declined 10 per cent in year-on-year terms from AU$1.86bn (US$1.26bn) to AU$1.67bn (US$1.13bn). The company attributed this to cost of livi
Star Entertainment Group's long-awaited AU$3.6 billion ($2.44 billion) Queen’s Wharf Brisbane development officially opened its doors on Thursday, marking the first phase of a multi-year project expected to transform the city’s skyline and economy. The Star Brisbane, the centerpiece of the developme
Revenue for the fiscal year 2024 was AU$1.67bn (US$1.13bn).Australia.-TheStar Entertainment Group has shared financial results for its fiscal year 2024. Revenue declined 10 per cent in year-on-year terms from AU$1.86bn (US$1.26bn) to AU$1.67bn (US$1.13bn). The company attributed this to cost of livi
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