The Star Entertainment Group Limited Stock SGR

An American Bellagio casino analytics 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 UFO9 casino best odds for poker 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 Review 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.
The European Central Bank has cut interest rates as expected on Thursday and kept the door ajar to more, even as a looming trade war with the US and plans to boost military spending drive Europe’s biggest economic policy upheaval in decades. Tony Sycamore from IG has circulated a note that highlights how dire the price action has been on the stock market in recent weeks. ABS head of business statistics Robert Ewing said that while spending on goods pushed up overall spending in late 2024, a 1.5 per cent rise for services drove the January growth. The executive order creates a US digital asset stockpile but the US will not sell any Bitcoin deposited into the reserve.
Xingchun Wang has spent more than $38 million buying shares in star gold coast desktop casino, which last week warned it was running out of money and could be weeks away from collapse if it did not secure additional financing. The Business Briefing newsletter delivers major stories, exclusive coverage and Raging Bull free spin 100 spins promo expert opinion. Now the chances of losing it all have been turned back onto one of Australia’s biggest casino operators. “Traditionally, probity checks have taken many months for new operators in casinos across the different state jurisdictions,” Mr Jones said. Swinburne University law and corporate governance specialist Helen Bird told ABC’s News Channel it seemed “more than likely” the company would tip into voluntary administration.
The published report states that it made a loss before interest, tax, depreciation and amortisation costs of $27 million for the quarter to June 30, on revenue of $270 million. Star said Destination Brisbane Consortium (DBC), in which it continues to hold a 50 per cent equity stake, has a debt exposure of $1.4 billion. It now also remains exposed to $200 million of future equity contributions to DBC due to massive cost overruns at the $3.6 billion resort.
The company’s chief executive, Steve McCann, needs to secure long-term financing from an unnamed party for the accounts to be signed off and for trade to resume. A deadline for the blow-up of a deal with the high roller casino games 2026 operator’s Hong Kong investors is approaching. Yesterday, there were media reports that Star was “on the brink” of inking a deal with its joint venture partners Chow Tai Fook and Far East Consortium, to buy its 50 per cent interest in the development. The falls this week have been driven by several factors, including US trade policy uncertainty at a time when fears of a looming US recession are rising. Locally, the falls have been exacerbated by more weakness in the big banks and worsened after BHP, RIO, South32, and energy giant Woodside all traded ex-dividend. “The horrific price action in the ASX200 has continued today, slipping below 8,000 for the first time in almost six months. Canstar analysis of RBA credit card statistics and in-house survey data shows that of those with credit card debt, the average amount owing is estimated to be $4,420.
The gold sector, however, isn’t enjoying the same fortunes with most miners in the red in line with a softer gold price today. The gains were largely across the board with 128 companies making gains, 65 losing ground and 7 going nowhere from Friday’s close. Its cash crisis continues, with $78 million in available cash at the end of December. Just a quick update on the waxing and waning fortunes of Donald and Melania Trump and their recently launched meme coins we’ve been following today. Ms Walsh joined Nine in 2008 and had a high roller casino games 2026-profile career as a reporter on the Today program and covering federal politics. Oxfam Australia is calling on the federal government to introduce a wealth tax of between 2 and 5 per cent on the super-rich.