Star Entertainment tumbles on fresh warning, ASX rises, Trump meme coin price swings as it happened 9 Aufruf

Star Entertainment tumbles on fresh warning, ASX rises, Trump meme coin price swings as it happened

The refunding was being sought to help it trade through the next six months and retain its casino licence in Sydney. Embattled casino 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 high payout online gambling policies Australia 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.
Embattled casino operator Star Entertainment is facing a fresh blow, with a deal to exit a major Brisbane development on the brink of collapse. But in a sign of its deepening financial woes, Star has reiterated there is material uncertainty about its ability to continue operating. Star Entertainment chief executive Steve McCann has warned the Treasury Casino account opening group is still battling negative cash flows, and begged shareholders and lenders for patience as he attempts to turn around the business. Star is looking Las Vegas roulette rules for beginners and players a financial lifeline to stave off collapse after it was mired in a scandal involving criminal infiltration and money laundering in its Queensland and New South Wales casinos. The casino giant said it was anticipating a funding deal on Friday which it would consider, but again warned of the possibility of facing financial collapse.
Star was expected to run out of cash this week but managed to pay its 8000 staff in recent days. The New South Wales Independent Casino Commission (NICC) found that the best casino instant withdrawal 2026 operator had not done enough to address „governance and cultural concerns“ raised in a 2022 inquiry that found it unfit to hold a licence. A Queensland inquiry found The Star actively encouraged people banned from gaming in Victoria and NSW to gamble at its casinos in the Sunshine State.
RocketPlay sign up Up for Take StockInvestment news, stock ideas, and more, straight to your inbox. The Star is continuing to engage with the Joint Venture Partners and will provide an update if there are any material developments regarding the parties‘ respective interests in DBC and DGCC. However, Star and its JV partners were „unable to reach agreement on a number of outstanding commercial issues“ relating to the deal. Revenues are down, with Star Entertainment reporting an unaudited $270 million in revenue for 4Q FY25, down 31% on 4Q FY24. „[It’s] loaded with $650 million of its own debt, is still less than 50 per cent operational and requires hundreds of millions of dollars in additional capital expenditure to complete,“ Mr Mayne noted.
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.
He said he would not like to see the company go into liquidation „for the people’s sake“. „To me, it has been a disaster dealing with the management of Star and I think … there is no doubt the board should be blamed for how bad it is,“ he told ABC Radio Brisbane. „What we would want to see is the government work to make that process as quick as possible, while still ensuring that any new operator is compliant with the regulations and the legislation.“ He said the government would also need to move quickly to approve a new operator should there be a sale. Mr Jones said in the event Star did go into administration the union would want the state governments to work quickly with the administrator and Sky Crown withdrawals existing lenders to ensure the administration was funded and the doors stayed open.