About Me

SGR ASX: Star Entertainment seals Queens Wharf casino deal with Chow Tai Fook and Far East, avoids administration

In a late-night update to the ASX on Monday, Star Entertainment revealed Bally’s would pay $100 million by Wednesday to keep the business’s doors open across Brisbane, the Gold Coast and Sydney. Let's see what top brokers think of Domino's Pizza shares following the AGM update last week. Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Star Entertainment said it would remain engaged with its JV partners and would update investors if anything changed. Star Entertainment will remain responsible for its share of future equity contributions to DBC, estimated at $200 million. This is a significant development given that the cash-strapped live dealer casino bonus terms 2026 sought to sell the assets to boost its balance sheet.
Peter Gartlan, co-CEO of Financial Counselling Australia, added that everyone needs access to telecommunications services and said consumers aren't getting adequate protection. "We continue to hear from callers to our frontlines of egregious examples of telco mis-selling and harm due to poor sales practices and credit assessment requirements," she said. Overall goods spending fell 0.6 per cent in January, after rising for three months in a row. The government will not acquire additional assets for the stockpile beyond those obtained through forfeiture proceedings. "Any global forecasts need to consider upside and downside scenarios, including the indirect impact of trade tensions on our largest trade partner China. The total value of credit card transactions rose by $21 million in January compared to the previous month.
Star Entertainment shares have lost more than 90% of their value in the past 3 years. "If the company goes into administration, [workers] want the support of their government to ensure the doors stay open." "At this stage, we look like we're heading towards an administration sometime this week," Mr Jones noted. Star said on Friday that any proposal would need to be large enough to keep Star afloat and carry a realistic chance of materialising before its board could approve the first-half results.
He's also spent the past few months talking up a government strategic reserve that would hold bitcoin, Harvest Buffet Ethereum bonus as well as some other coins. "Market pricing now matches our forecast of two more rate cuts, Mindil Beach Microgaming taking the cash rate down to around 3.6 per cent by year-end," Mr Robertson said in an economic note released on Friday. And it knocks about investor confidence, which could see a more rocky sharemarket and a hit to your super savings. Costco Wholesale would consider making changes to its international supply chain if tariffs from US President Donald Trump lead to big price hikes, chief executive Ron Vachris said on a conference call. The Reserve Bank's credit card statistics showed credit card debt accruing interest rose by $172 million (up 1 per cent) in January. National credit card debt hit $18 billion in January 2025 — the highest level of debt accruing interest since August 2021. We will keep an eye out for any reports and report them for you over the coming weeks and months.
On Friday afternoon, Far East Consortium confirmed a deal had been struck, in a filing to the Hong Kong stock exchange. The only positive element to Wang stalking Star is that he is prepared to place real money casino Australia 2026 on a bet that Star will survive. It was enough to breathe some life back into the share price, which has moved up from 10¢ to 14¢ since Wang’s shareholding was disclosed. In a possible blow to these asset sale hopes, it has been reported that an Australian casino deposit methods company that was lined up to buy the leasehold of the Treasury Hotel in Brisbane has pulled out in recent times.
Star also secured a $200 million debt facility to cover some of its short-term financial needs, but this comes with a hefty 13.5% interest rate. Star will have to repay more than $36 million to its consortium partners between now and September, but the bigger issue is how it will shoulder its share of future equity contributions and the consortium’s debt. "As noted in the company’s recent ASX announcements, there remains material uncertainty as to the group’s ability to continue as a going concern," it said. Star Entertainment has narrowly dodged financial collapse with thousands of jobs saved after a US Avantgarde casino payout speed giant swooped in to rescue the flailing business.
Our Star Entertainment analyst Angus Hewitt recently sat down with me to discuss the Star's financial position, regulatory concerns, 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 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.