A secret government report concluded the Hong Kong company that rescued Star from financial collapse concealed its relationship with a notorious junket operator.
With a deal in hand to keep the lights on a bit longer,Star Entertainment now has a new bid from an opportunistic raider,adding a twist in the tale for management and Star lenders.
Ailing casino operator Star’s latest suitor Bally’s has a chairman with a track record of targeting casino businesses in strife.
Star’s thousands of employees do not deserve to be punished for the failings of management,board members and regulators,but will inevitably bear the brunt of any collapse.
Star Entertainment has temporarily secured its future after selling its stake in the Queen’s Wharf casino and resort in Brisbane.
As Star’s former boss gets grilled in the Federal Court,the casino operator is chasing an 11th-hour reprieve from financial collapse.
The casino operator’s shares may never trade again after the share market operator suspended trading of the Star,which could not file its financial accounts.
Star confirmed on Friday that its board is in a desperate attempt to secure funding for the casino operator that could stave off financial collapse.
While we play the waiting game,maybe it’s time to consider putting Star Entertainment out of its misery.
Former Star boss Matt Bekier is alleged to have claimed NAB “tacitly supported” funds from Chinese gamblers passing through its systems.