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...
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 inquiries about potential takeovers.
According to the Australian Financial Review, a consortium headed by Hard Rock is considering buying Star and maybe rebranding it. Star’s stock has fallen recently due to two investigations—one of which is still ongoing—about whether it is qualified to hold a casino license for The Star Sydney.
In an ASX filing, Star said it “notes certain media articles speculating on potential corporate activity involving The Star” and confirmed interest from a number of external parties regarding potential transactions. According to Star:
The nature of the interest to date has been unsolicited, preliminary and non-binding.
It did note, nevertheless, that none of the strategies have produced significant discussions as of yet. The Star’s remedial efforts in Queensland and New South Wales, together with its involvement in the Bell Two Inquiry, continue to be its primary priorities.
Star’s new chair admits Sydney casino license issues
The Star's new chair, Anne Ward, has stated that the organization isn't now seen to be qualified to operate a casino in Sydney. She did, however, voice optimism that the...
