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Shares in Star Entertainment suspended from trade as casino operator remains on brink of collapse

The cards are designed to identify problem gamblers and to more easily enforce money-laundering rules. Operational earnings have plunged from about $19 million a month in the first half of the last financial year to just $4.6 million in the second half. Its accounts, delayed by a month, portrayed a company close to the edge as asset write-downs of more than $1.4 billion inflicted a full-year loss of almost $1.7 billion.
Star Entertainment shares have lost more than 90% of their value in the past 3 years. "If the company goes into administration, [workers] want the support of their government to ensure the doors stay open." "At this stage, we look like we're heading towards an administration sometime this week," Mr Jones noted. Star said on Friday that any proposal would need to be large enough to keep Star afloat and carry a realistic chance of materialising before its board could approve the first-half results.
US best Australian casino bonuses 2026 operator Bally’s has reportedly shown interest, as has billionaire Clive Palmer. With the company’s future under a cloud, its board is holding out hope of a last-minute rescue, saying on Friday that it expected to receive "possible liquidity solutions" during the day, which would be carefully assessed. Star Entertainment has given its suitor Holiday Park slot payout rates Salter Brothers until the beginning of April to complete due diligence and deliver a $750 million rescue package, as the Casino financial reports group teeters on the brink of collapse for the second time in a month. The ASX-listed company was hit with a 41 per cent protest vote against its remuneration report as it revealed an unaudited earnings before interest and tax loss of $27 million for the first four months of trading in the new financial year. The casino user feedback operator burnt through $107 million of its available cash in the December quarter, which should be its busiest trading period of the year. Meanwhile, Star’s largest shareholder and legendary hotelier Bruce Mathieson had also previously pitched two offers for the company’s Gold Coast casino.
The façade came crashing down in August 2022 with the state government issuing a second Australian casino slot bonuses license to Crown Resorts, ramping up competitive pressure. Two experts are now calling for investors to sell two of the largest ASX consumer staples shares on the market. Star Entertainment has returned to its customary position in the loser's column after warning shareholders about the "material uncertainty" of their investment, something they should be all too aware about already. Star Entertainment returned to its customary position in the loser's column after warning shareholders about the "material uncertainty" of their investment, something they should be all too aware about already. Star Entertainment crashed 18 per cent as the casino operator high‑roll workplace culture continued to seek a financial lifeline. The casino operator said it may face equity contributions above this level if required as part of refinancing commitments when the current loan expires on December 31, 2025. It is unclear when the embattled casino operator, which has venues in Sydney, Brisbane and the Gold Coast, will resume trading.
The operator had planned to sell its 50 per cent stake in the Brisbane complex to its business partners, but the talks have broken down. The casino giant has received the last tranche of a $300 million investment from American casino giant Bally’s Corporation and the billionaire Mathieson family. Ward has run the struggling casino operator since 2024, guiding it during one of its most difficult periods. The gaming sector carries a set of constant risks including tax increases, ESG risks, and heightened regulatory scrutiny.
It has been seeking a rescue package to stay afloat but until now has been unsuccessful, with the group most recently failing to secure $940 million from property development fund Salter Brothers Capital. United Workers Union welcomed the deal for the 9,000 employees across the group who could have been left high and dry if it collapsed. The Motley Fool stands behind our products and our membership-fee-back guarantee. If for any reason you are not 100% satisfied with your premium subscription, simply notify us within the first 30 days and you won't pay a cent.