Against all odds, Star Entertainment has managed to avoid sliding into administration for now. But its near demise poses bigger problems for a glittering world that risks being consigned to a bygone era. Hong Kong investors Chow Tai Fook Enterprises and Far East Consortium, which each own 25 per cent of the Brisbane complex, had agreed to buy Star's 50 per cent stake for $53 million. In September last year, Star’s directors started getting advice on "safe harbour" provisions provided by the Corporations Act that would protect them from being personally liable for debts in the event that it cannot stay solvent.
US RocketPlay casino jackpots operator Bally’s has reportedly shown interest, as has billionaire Clive Palmer. With the company’s future under a cloud, its board is holding out hope of a last-minute rescue, saying on Friday that it expected to receive "possible liquidity solutions" during the day, which would be carefully assessed. Star Entertainment has given its suitor roulette bonus Salter Brothers until the beginning of April to complete due diligence and deliver a $750 million rescue package, as the casino group teeters on the brink of collapse for the second time in a month. The ASX-listed company was hit with a 41 per cent protest vote against its remuneration report as it revealed an unaudited earnings before interest and tax loss of $27 million for the first four months of trading in the new financial year. The casino operator burnt through $107 million of its available cash in the December quarter, which should be its busiest trading period of the year. Meanwhile, Neospin mobile app Star’s largest shareholder and legendary hotelier Bruce Mathieson had also previously pitched two offers for the company’s Gold Coast casino.
Sacks said the US government will have a strategy to maximise the value of its holdings in such a reserve, but he didn't offer details as to how. As noted, White House-appointed 'AI and Crypto casino free spins offer Czar' David Sacks revealed on X (formerly Twitter) that Trump signed an executive order to establish a "strategic Bitcoin". A full-blown trade war could also impact the direction of local interest rates and the Aussie dollar — which has already faced much volatility. According to the corporate watchdog ASIC the entity was registered on March 3 this year, and lists Melbourne businessmen Nicholas Dobromilsky and Graeme Wilson as its directors. The dairy giant did not name those involved in the new entity but said it was being led by "two experienced Australian businessmen with supply chain and manufacturing expertise".
I'm not sure why the Grattan Institute cares whether people are dying with large super balances? I mean, wasn't everyone pointing the finger at retirees for spending more than other generations (unfairly in my view - and no, I'm still working). US financial giant Oaktree also offered to refinance Star’s debt if it could reach agreement with Star lenders owed more than $450 million, and provide up to $650 million of fresh funding. The deal was subject to numerous conditions and there was no guarantee it would progress, Star said. This includes its major shareholder, pokies billionaire Bruce Mathieson, offering to buy its Gold Coast top online casino with high limit games Australia.
Amcor shares are seriously undervalued according to the analysts at two major broking houses. A leading fund manager expects positive long-term growth from Guzman Y Gomez shares. Macquarie has reduced its price target for the Star advanced casino strategies share price to just 24 cents per share. Much of Star's struggles can be traced to the regulatory crackdowns it is currently facing, which are compounded by a weakened financial performance.