SGR News, Analysis, Announcements & Results The Star Entertainment Group Limited

For a sharemarket gambler, an investment in Star is the ultimate high-adrenaline bet. And make no mistake – this is a big bet from an investor – even one who is located at the epicentre of gambling and who thrives on risk. He has been stalking Star since September last year but only showed his hand this week when his stake tipped over the 5 per cent notification threshold.
Star Entertainment’s largest shareholder, billionaire publican Bruce Mathieson, is backing a last-minute rescue offer from an American casino giant and has agreed to tip in more than $50 million if a deal proceeds. Casino operator Star is staring down another major financial threat, despite shareholders approving a $300 million rescue deal last week. Steve McCann, Star’s chief executive, has been in negotiations with a group of potential investors since early March, when he announced a three-part deal to shore up the casino group’s financial future. Shares in struggling casino giant Star Entertainment have plummeted after a brief trading halt was lifted, as the company searches for a financial lifeline by the end of the day.
Star Entertainment was suspended from trading by the ASX on Monday over its failure to lodge financial statements for the December half-year. Star Entertainment Group was delisted from the Australian Securities Exchange on Monday as the group faces scrutiny over a series of scandals related to criminal activity and unethical conduct at its casinos. “Any deal that promises to keep venues in Brisbane, the Gold Coast and Sydney operating as a going concern is a good result for the Star workers, their families and the communities they live in,” the union’s Sky Crown casino promotions 2026 director Andrew Jones said. “We’re always looking at everything within the best free slot games no credit card interest of the staff certainly our shareholders,” Daniel Finch, CEO The Star Brisbane, said 7NEWS on Monday.
Remember that individual shares or 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 Royce Hotel Casino table games group could be broken up in the process, as administrators would search for buyers for individual assets, if the company can’t be rescued as a whole.
Unless Wang has been given regulatory approval to move beyond 10 per cent of the spin samurai casino sportsbook group (and there is no suggestion he has), he can’t contribute to a recapitalisation of the company. If he had been lined up or approached by the Star board as part of the rescue attempt, bit the company would need to have disclosed any deal or association. Star shares have been suspended from trade on the Australian Securities Exchange since March after the company failed to submit its half-year accounts. Embattled top casino investment opportunities Australia group Star Entertainment has secured a $300 million lifeline from US gaming giant Bally’s, which has made a specialty of picking up “distressed” casinos.
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.
The notice to terminate the transaction comes into effect in five business days, on Monday July 7, unless withdrawn prior. “We need to implement those, and we need to make sure that we understand what the revised revenue model is for our business across gaming and non-gaming over time,” McCann said at the meeting. The provisions are used when a financially struggling company is considering a last-ditch restructuring attempt as an alternative to financial collapse and calling in administrators.
The European Central Bank has cut interest rates as expected on Thursday and kept the door ajar to more, even as a looming trade war with the US and plans to boost military spending drive Europe’s biggest economic policy upheaval in decades. Tony Sycamore from IG has circulated a note that highlights how dire the price action has been on the stock market in recent weeks. ABS head of business statistics Robert Ewing said that while spending on goods pushed up overall spending in late 2024, a 1.5 per cent rise for services drove the January growth. The executive order creates a US digital asset stockpile but the US will not sell any Bitcoin deposited into the reserve.