New rules that would have restricted patrons to gambling $1000 in cash per day will not be introduced for another two years after lobbying from casino giants. This came as bad news with Star’s performance historically lagging behind Crown Ripper Casino mobile slot games in Melbourne, with both revenue and earnings falling short of its competitor. This long history of underperformance continues despite Sydney being the country’s largest city and international gateway to Australia. "In the absence of one or more of those arrangements, there remains material uncertainty as to the group's ability to continue as a going concern." In an update to the stock exchange this morning, Star reported a loss for the second quarter — although not as bad a loss as the previous period, as it managed to cut costs. Earlier this week, Star published its quarterly report, which precedes audited financial accounts due next month.
Before signing the accounts, JeetCity jackpot slots a board of directors must be satisfied that the company is a "going concern" – that it can pay its debts when they fall due. We’ve obviously been working with them over a period of time on a range of issues, including the importance of the employment that is there, and BlackCoin withdrawal options will continue to do so," she said. Bruce Mathieson, who operates poker machine and pub empire Australian Liquor and Hospitality with Woolworths, holds about a 10 per cent share in Star and has been interested in buying the Gold Coast RSM Club casino tournament live chat. It's been facing serious operational challenges, burning through $107 million in three months and reporting an available cash balance of $79 million to the ASX in January. McCann, for years the chief executive of property group Lend Lease, knows a thing or two about gambling. In recent months, a series of senior executives appointed by Blackstone have parted ways with Crown including boss Ciaran Carruthers and his offsider Justin Casey.
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 online casino bonus structure Australia 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.
Star Entertainment needs to lock in a multimillion-dollar funding package before the start of April or faces the prospect of voluntary administration. The terms are expected to be finalised as early as Monday, following a weekend of negotiations. Sharemarket rallies after US futures, Asian stocks lift; Deutsche Bank first to tip 50bps May cut; Star saved as Bally’s swoops in; $A holds near five-year low. The distressed Star Entertainment will pay up to $10 million to a US hedge fund for a debt facility that was never used, or signed-off on. The businessman’s visit, his second in two months, comes as the group’s Hong Kong backers are also in the country to take ownership of its Brisbane complex. The gaming giant had called off negotiations on an early proposal after finding itself unable to agree on key details of a plan to sell its Brisbane precinct. Real estate (-1.8pc), financials (-1.7pc) and tech (-1.5pc) led the losses in the first 15 minutes of trade.
Star continues to face cost challenges that include the multimillion-dollar legal bills of its former board members who are now before the Federal Court facing civil action by the Australian casino bonus list 2026 Securities and Investments Commission (ASIC). The transaction structure and specific terms "remain unclear" said Far East, which will receive an $18 million break fee from Star if the deal fails. The agreement, first reported in The Australian Financial Review, is still subject to approval from Star’s regulators and lenders, according to Far East. "It has only very recently turned its attention to dealing with challenges that should have been prioritised earlier," NICC chief commissioner Philip Crawford said.
Shares are currently swapping hands at 25.5 cents per share, a far cry from the $4 per share range Star fetched pre-pandemic. Grattan's modelling shows that Australians who draw down their super at the minimum rate when they retire will leave the equivalent of 65 per cent of their original super balance unspent by the age of 92. The report you reference is from the Grattan Institute, which highlights that many retirees are net savers, with their super balances growing for decades after they retire, for fear of outliving their savings.
