Star, which operates casinos in Brisbane, the Gold Coast and Sydney, entered a trading halt before the Australian share market opened on Friday after failing to post its half-year financial results. Australia’s embattled Star Entertainment Group was suspended from the ASX, the country’s stock exchange, Paris Las Vegas trip planner on Monday for failing to file its financial results. Equity analysts are not so confident, with Morningstar analyst Angus Hewitt, in a note to investors, saying that at its current cash burn, the company would be lucky to make it to its interim results scheduled for February 28. "We now incorporate a 50 per cent probability that Star falls into administration, and equity holders are wiped out," Hewitt said. Significant regulatory and financial challenges are clouding the company's future. So there's no doubt that investors are wondering what the Star Casino share price is actually worth.

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 RSM Club performance metrics for trade to resume. A deadline for the blow-up of a deal with the sticky casino deposit bonus operator’s Hong Kong investors is approaching. Yesterday, 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.

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.

An American casino operator controlled by a New York hedge fund has joined the opportunists sniffing around embattled Star Entertainment Group, which is on its last legs and desperately seeking a capital injection to avoid administration. The casino operator warned that additional equity may be required as part of the refinancing of the DBC debt facility. Star first entered the deal with its the Hong Kong investors in early March, after months of warnings about its financial future — and prior to the bigger deal struck with Bally's and the Mathiesons. The Australian Financial Review reported that the company had failed to raise the funding required to meet near-term payments, including for payroll, which puts the company at serious risk of running out of cash. After a brief trading halt on Friday morning, Star shares plunged 15.4 per cent to 11¢, valuing the company once worth $5 billion at about $315 million. Star did not name the parties that are expected to provide an offer of financing, but it has confirmed previously that US finance giant Oaktree has tried to buy out Star’s debt from its lenders.

In a further sign of its precarious financial situation, the company’s Monday update also reiterated that the company’s directors continued to seek external advice on application of "safe harbour" provisions of the Corporations Act. This is part of the law aimed at helping directors turn around a distressed company without being personally liable for debts incurred by an insolvent company, provided they meet certain conditions. "While discussions continue with respect to a range of different solutions, there is no certainty that any of these negotiations will result in one or more definitive arrangements that might materially increase the Group’s liquidity position.

Remember that individual shares or Imperial Poker Korean support investments should only be considered as part of a broader investing strategy. So first is the cyclical downturn in discretionary spending that's weighing on main floor gaming. We do expect VIP gaming to come back to levels much, much lower than it was pre-COVID. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. The potential collapse of the company puts the jobs of about 9,000 workers across its three casinos on the line. The casino group could be broken Level Up Casino crypto casino review in the process, as administrators would search for buyers for individual assets, if the company can't be rescued as a whole.

Before signing the accounts, 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 will continue to do so," she said. Bruce Mathieson, who operates top poker apps 2026 review 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 casino. 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.