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The company told shareholders on Friday that it would halt trading and publish its full-year results later in the day. That’s while it "considered the implications" of a damning report by New South Wales (NSW) regulators that found it was still unsuitable to hold a gaming license for its flagship Star Sydney property. Star is preparing to announce a $1.4bn write-down of its casino assets and a major cost-cutting programme, the Australian Financial Review reported on Monday.
"That's money that could be far better spent on groceries, rent or mortgage repayments.," Canstar's Sally Tindall said. Sometimes, the modelling looks at the impact of one-off large scale disasters like cyclones. The index is down more than 7.5 per cent from its all time high of 8,615.2 on February 14, and has fallen for four straight sessions amid uncertainty over US trade policy announcements. You can keep abreast of the Star Brisbane casino new locations Entertainment deal story from our business reporters. We’d like to share more about how we work and what drives our day-to-day business. Other analysts have remained silent about Star since its financial update was delivered last week.
The refunding was being sought to help it trade through the next six months and retain its bingo casino free spins licence in Sydney. Embattled Online casino bonus policy review operator Star Entertainment says it has been unable to reach a deal with Hong Kong investors to buy its stake in Brisbane's Queen's Wharf development. Australians are paying $9.2 million in interest charges per day on a collective credit card debt of $18.02 billion, at the average interest rate of 18.71 per cent. In a quarterly update to investors on Monday, ASX-listed Star said its revenue had fallen 15 per cent in the December quarter, citing ongoing weakness in its operating performance. It pointed to a "challenging" consumer environment, the impact of carded play in NSW, and expenses caused by a series of regulatory and compliance problems. Coincidentally, another significant shareholder in E-Commerce is PAG – a major Asian investment company that is the largest shareholder in troubled Australian airline Rex.
ASIC has accused them of not paying sufficient attention to the risks of money laundering and criminal association that have financially crippled the casino operator with massive fines and gambling restrictions on its pokies. The Darwin casino privacy policy operator also remains embroiled in legal challenges, with the financial crimes regulator AUSTRAC seeking a $400 million penalty against the company for alleged money laundering, in a court case that kicked off earlier this month. Star Entertainment’s major Macau-based investor has increased his stake in the company for a second time in a week, with the mystery businessman now owning almost 7 per cent of the struggling casino operator. More than 8000 jobs hang in the balance as teetering casino operator Star Entertainment is on the brink of financial collapse, with its board in last-ditch talks late on Friday to find the cash needed to keep the company afloat.
The second inquiry, dubbed Bell 2 when launched in February, was published on Friday and "validated the concerns that prompted the second inquiry" according to the NICC. The body said it is considering next steps for the future of the suspended casino operator. The financial crime watchdog says the court should disregard best online casino free spins 2026 operator’s threat that it would collapse under the weight of a $400 million fine. The price of Bitcoin plummeted on Friday after the US government signalled it would not acquire additional cryptocurrencies for its strategic reserve beyond its current holdings. Overall, spending on both debit and personal credit cards rose by $207 million in the month and $3.1 billion compared to the same time one year ago. Canstar analysis of RBA figures shows credit card debt attracting interest charges has risen every January since 2015. The price of Bitcoin plummeted on Friday after US President Donald Trump's administration signalled it would not acquire additional cryptocurrencies for its strategic reserve beyond its current holdings.
Australian shares fell to its lowest close in more than six months, wiping off about $50 billion in market value. Star Entertainment will receive a $53 million lifeline, with its Hong Kong joint venture partners confirming they will buy its stake in the Brisbane Queen's Wharf development, pulling it back from the brink of collapse. As well as negotiating with lenders, Star has pleaded for help from state governments, and on Friday, Star chief executive Steve McCann called for its various stakeholders to come together. As it fights for survival, Star said it was continuing discussions to attempt to deal with the crunch on its finances, but there was no guarantee it would be able to reach a deal to resolve its situation. It acknowledged the uncertainty over its ability to continue operating if the negotiations were unsuccessful.
Copyright © 2025 FactSet Research Systems Inc.Copyright © 2025, American Bankers Association. "They're not highly paid people — they're struggling with the cost of living as everyone else is and they can't afford to take a pay cut." The union was not aware of any requests for staff to take pay cuts or give up benefits to help keep the business afloat.
The company’s chief executive, Steve McCann, needs to secure long-term financing from an unnamed party for the accounts to be signed off and for trade to resume. A deadline for the blow-up of a deal with the casino operator’s Hong Kong investors is approaching. Yesterday, Cosmopolitan Vegas dining experiences there were media reports that Star was "on the brink" of inking a deal with its joint venture partners Chow Tai Fook and Far East Consortium, to buy its 50 per cent interest in the development. The falls this week have been driven by several factors, including US trade policy uncertainty at a time when fears of a looming US recession are rising. Locally, the falls have been exacerbated by more weakness in the big banks and worsened after BHP, RIO, South32, and energy giant Woodside all traded ex-dividend. "The horrific price action in the ASX200 has continued today, slipping below 8,000 for the first time in almost six months. Canstar analysis of RBA credit card statistics and in-house survey data shows that of those with credit card debt, the average amount owing is estimated to be $4,420.
It since has been selling neighbouring properties in Southbank, bought by Crown when James Packer was still running the outfit. US investment giant Blackstone bought Crown in 2022 for $8.9 billion with grand plans for a refurbishment and expansion, which appears to have come to nought. Investors were spooked by a financial performance that revealed an operation haemorrhaging cash with little prospect of an immediate improvement.