Star close to collapse with casino group set to run out of cash by Friday
www.abc.net.au
Troubled casino operator Star Entertainment has barely enough cash to last until the weekend, increasing the likelihood of the company entering administration as early as Wednesday.

In short:

Star Entertainment could enter administration on Wednesday with the company set to run out of cash by the end of the week.

The struggling casino operator was suspended from trade on the ASX on Monday.

What’s next?"

Star’s CEO Steve McCann is still searching for a deal to refinance the company’s loans to prevent it from collapsing.

  • a1studmuffinEnglish
    24·
    3 days ago

    It takes a special kind of mismanagement to go broke running a casino. Bravo.

    • NathAEnglish
      4·
      3 days ago

      I’m flipping between this response, and @a1studmuffin’s response - how the hell do you go broke running a casino? A state monopoly casino with no competition?

  • No1English
    61·
    3 days ago

    The NSW Libs even shutdown Sydney nightlife to funnel everyone to the Star Casino. That didn’t save them in Sydney.

    Packer’s Pecker took the high rollers, and it’s barely different from any club, pub, or rsl. And some of those are significantly nicer environments.