Our Star Entertainment analyst Angus Hewitt recently sat down with me to discuss the Star's financial position, regulatory concerns, Bitcoin promo code what markets want to see from the company, and whether the shares offer a big enough margin of safety. "There remains material uncertainty as to the Group's ability to continue as a going concern," Monday's statement reiterated. The casino operator, which was due to deliver its latest accounts on Friday, is facing voluntary administration.
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 Monte Casino crypto casino online operations, including hotels, theatres, restaurants, bars and other entertainment facilities. Star Brisbane, including casino operations, Tattersalls hotel casino map, 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.
The company told shareholders on Friday that it would halt trading and publish its full-year results later in the day. That’s while it "considered the implications" of a damning report by New South Wales (NSW) regulators that found it was still unsuitable to hold a gaming license for its flagship Star Sydney property. Star is preparing to announce a $1.4bn write-down of its casino customer support Australia assets and a major cost-cutting programme, the Australian Financial Review reported on Monday.
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. United Workers Union casinos director Andrew Jones said there was growing frustration amongst staff towards Star's "business as usual" approach. The company employs 9,000 people across Queensland and New South Wales, with 3,000 in Brisbane, about 2,000 on the Gold Coast and 3,500 in Sydney, as well as about 400 corporate staff. Star was reported to be considering a $650 million debt refinancing offer from Oaktree Capital Management last week.
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