GabrielleM - 30-12-2025 at 05:35 PM
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Star, which operates casinos in Brisbane, the Gold Coast and Sydney, entered a trading halt before the Australian share market opened on Friday after
failing to post its half-year financial results. Star's board remains unable to sign off on and lodge its half-year financial results due to the
ongoing uncertainty and its shares remain suspended from trading on the ASX. The failure to secure the $750 million deal has forced the company to try
and shore up an alternative arrangement with US casino group Bally's. Star warns its future remains uncertain and its shares will not be able to
return to trade until it is able to secure cash and lodge its financial accounts. Star investors who got excited on Monday by the left-field emergence
of a mystery Macau buyer of the casino’s shares would be wise to curb their enthusiasm.
The deal would see Star give up assets, including its 50 per cent stake in the $3.6 billion Queen's Wharf casino complex, and the Treasury car park
and hotel. Brisbane's resort and casino precinct Queen's Wharf has faced financial woes. He said he would not like to see the company go into
liquidation "for the people's sake". Bruce Mathieson, who operates poker machine and pub empire Australian Liquor and Hospitality with Woolworths,
holds about a 10 per cent share in Star and has been interested in buying the Gold Coast casino. Earlier this month Star confirmed its partners in the
Queen's Wharf facility — Chow Tai Fook Enterprises (CTF) and Far East Consortium (FEC) — have offered to buy out its share.
References:
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