Star Entertainment faces potential takeover by Hard Rock
Following reports that US casino operator Hard Rock Hotels and Casinos had made an approach, Australia's Star Entertainment Group confirmed that it has received a number of...
Hard Rock denies rumors of Star Entertainment Group takeover
Hours after The Star revealed that a Hard Rock consortium contacted it about possible transactions, Hard Rock International released a statement denying that it had placed a takeover offer for the Australian casino operator.
The Star had stated in its early Monday report that none of the approaches had led to meaningful discussions and that the interest to date in the potential transactions had been private, unsolicited, preliminary, and non-binding.
Hard Rock International said in a late-Monday filing that it has neither authorized nor is it a part of any talks, activities, or negotiations about a potential bid for Star.
The group added that it has also strictly prohibited any third party from using the Hard Rock trademark in connection with a possible acquisition of Star.
According to Hard Rock International’s statement,
“We are currently investigating this matter and will pursue all necessary legal actions to protect our brand and reputation.”
It further stated that any misuse of the Hard Rock name in unauthorized business dealings is taken very seriously.
The Star’s stock increased significantly on Monday on the announcement of the anticipated investment or takeover.
Queensland extends The Star’s casino license suspension
Queensland's government has chosen to prolong the suspension of casino permits for The Star Gold Coast and Treasury Brisbane until the 20th of December.The original plan...
