The Star Entertainment Group ASX:SGR Stock Price & Overview

In the absence of one or more of those arrangements, elite poker tournaments there remains material uncertainty as to the Group’s ability to continue as a going concern,» Star said. Star Entertainment will sell its stake in the new Queen’s Wharf casino and entertainment complex in Brisbane, a deal that will give the company enough cash to stave off collapse for several months. Strict new online gambling account protection guide for beginners rules and fewer tourists at the casino operator’s flagship Sydney establishment have pushed the company into a loss for the past three months. The largest shareholder of the pubs and bottle shop giant said it wants more say in the company’s strategy ahead of new CEO Jayne Hrdlicka’s arrival. The Star Entertainment Group Limited is currently rated five stars by our Analyst Rating and trades at 0.4 of its price to fair value on a $0.27 share price (as at 1st October 2024). On the other hand, Star continues to face potential operational risk at its Queensland facilities. This stems from material uncertainty around the considerable Australian Transaction Reports and Analysis Centre («AUSTRAC») fine after alleged non-compliance with Australia’s anti-money laundering and counter-terrorism financing laws.
«That’s money that could be far better spent on groceries, Seasonal welcome bonuses rent or BlackCoin best bonuses mortgage repayments.,» Canstar’s Sally Tindall said. Sometimes, the modelling looks at the impact of one-off large scale disasters like cyclones. The index is down more than 7.5 per cent from its all time high of 8,615.2 on February 14, and has fallen for four straight sessions amid uncertainty over US trade policy announcements. You can keep abreast of the Star Entertainment deal story from our business reporters. We’d like to share more about how we work and what drives our day-to-day business. Other analysts have remained silent about Star since its financial update was delivered last week.
Star chief executive Steve McCann has unsuccessfully tried to coax lenders, state governments and investors into giving the embattled casino operator the time and cash needed to work through its challenges. Embattled casino operator Star Entertainment has warned that it faces «material uncertainty» over its ability to stay afloat unless it finds a solution to its worsening financial woes, sparking a further drop in the company’s share price. Shares in The Star Entertainment Group Limited («Star») tanked last week after their first day back on the ASX in almost a month. This ended a prolonged trading halt further aggravated by a slap-on-the-wrist ASX suspension for failure to provide timely financial accounts.
The Company operates The Star Sydney (Sydney) and The Star Gold Coast (Gold Coast). The Sydney segment consists of The Star Sydney’s casino operations, including hotels, restaurants, bars and other entertainment facilities. The Gold Coast segment consists of The Star Gold Coast’s casino operations, including hotels, theatres, restaurants, bars and other entertainment facilities. Star Brisbane, including bitcoin casino bonus conditions 2026 operations, hotel, restaurants, bars and other entertainment facilities. The Company also manages the Gold Coast Convention and Exhibition Center on behalf of the Queensland Government. The Company owns Broadbeach Island on which The Star Gold Coast casino is located.
Australian shares fell to its lowest close in more than six months, wiping off about $50 billion in market value. Star Entertainment will receive a $53 million lifeline, with its Hong Kong joint venture partners confirming they will buy its stake in the Brisbane Queen’s Wharf development, pulling it back from the brink of collapse. As well as negotiating with lenders, Star has pleaded for help from state governments, and on Friday, Star chief executive Steve McCann called for its various stakeholders to come together. As it fights for survival, Star said it was continuing discussions to attempt to deal with the crunch on its finances, but there was no guarantee it would be able to reach a deal to resolve its situation. It acknowledged the uncertainty over its ability to continue operating if the negotiations were unsuccessful.
An American casino operator controlled by a New York hedge fund has joined the opportunists sniffing around embattled Star Entertainment Group, which is on its last legs and desperately seeking a capital injection to avoid administration. The casino operator warned that additional equity may be required as part of the refinancing of the DBC debt facility. Star first entered the deal with its the Hong Kong investors in early March, after months of warnings about its financial future — and prior to the bigger deal struck with Bally’s and the Mathiesons. The Australian Financial premium jackpot slot review 2026 reported that the company had failed to raise the funding required to meet near-term payments, including for payroll, which puts the company at serious risk of running out of cash. After a brief trading halt on Friday morning, Star shares plunged 15.4 per cent to 11¢, valuing the company once worth $5 billion at about $315 million. Star did not name the parties that are expected to provide an offer of financing, but it has confirmed previously that US finance giant Oaktree has tried to buy out Star’s debt from its lenders.