Star Entertainment shares plummet after trading resumes while casino giant searches for financial lifeline
Eligible shareholders who wished to retain their Unmarketable Parcel were required to return a Share Retention Form to the share registry by the Closing Date. The Trans and gender-diverse communities are starting to feel vulnerable, so let’s continue to work on making The Star a safe and inclusive place for everyone, esp., for trans and gender-diverse team members. As a business, The Star is ahead of many in our industry in terms of diversity and inclusion, but there’s still a lot to do. Our PVP shows that we are serious about embedding D&I into our business. Together, The Star Brisbane and broader Queen’s Wharf precinct is attracting an estimated 1.4 million additional visitors each year.
The Star Brisbane Casino is the premier gaming and entertainment destination in Australia, located in the prestigious Queen’s Wharf precinct. By the time its new Brisbane casino opened on August 29, 2024, that had plummeted to 57 cents a share, making it difficult for the company to raise funds and keep its new business operating. Brisbane’s resort and casino precinct Queen’s Wharf opened in August 2024 but faced financial woes before and after. A Tax Calculator is provided below to assist shareholders in calculating the Australian capital gains tax cost base allocation for Tabcorp shares and The Star Entertainment Group shares. On 5 April 2016, eligible shareholders were sent a letter together with a Share Retention Form (for the Small Holding Sale Facility) or a Sale Instruction Form (for the Voluntary Share Sale Facility), and Terms and Conditions for the relevant share sale facility. The Star Entertainment Group announced on 5 April 2016 share sale facilities that provided eligible small shareholders the opportunity to sell their shares without incurring any brokerage or handling costs.
ASIC has since reached settlements with two former Star executives, former chief financial officer Harry Theodore and former chief casino officer Greg Hawkins. Trading in Star shares resumed before noon on Friday, but had plummeted by more than 15 per cent by the close of trade to just 11 cents. “If [the half-yearly report] is not lodged later today as required by ASX listing rules, then the company shares will be automatically suspended from trading from Monday, 3 March 2025. Star confirmed to the sharemarket on Monday to having received the offer from California-based Oaktree Capital Management, which deals in what is known as distressed debt.
About 2,000 people work at Star’s casino at Broadbeach on the Gold Coast. “It’s going to be important for both government and the Star casino, or whoever ends up taking that over, for it to be an ongoing viable solution.” Get the most out of your news with The Nightly app. Star has its flagship casino in Sydney — where it has already been forced to sell off sections of the complex to raise cash — and one on the Gold Coast.
The casino is located in the Queen’s Wharf precinct, right in the heart of Brisbane. The Star Brisbane Casino is more than just a casino — it’s a premier entertainment destination located in the heart of Queen’s Wharf, Brisbane. At The Star Brisbane, guests can enjoy a wide range of gaming options with flexible betting limits suitable for beginners and high rollers alike. The casino features hundreds of slot machines, including popular titles like Lightning Link and Dragon Link.
Overall Sentiment Recent reviews reflect appreciation for The Star’s premium facilities and entertainment offerings while highlighting opportunities for service improvements in certain areas. “The membership process feels overly complicated compared to other international casinos I’ve visited.” – Lisa P., International Tourist Constructive Feedback Areas “Wait times for gaming card registration can be lengthy during peak periods – more staff would help streamline the process.” – Jennifer K., Brisbane Patron Positive Feedback Highlights “The pool area at The Star Gold Coast is absolutely fantastic – great service at the bar and perfect for relaxing between gaming sessions.” – Sarah M., Gold Coast Local Current mobile offerings focus on enhancing the physical casino experience rather than remote gambling operations. Progressive Web App (PWA) Considerations The Star continues to evaluate emerging technologies while ensuring compliance with Australian gaming regulations.
Star said on Wednesday the deal was “unlikely” to be done by July 31. The heads of agreement was terminated as a result, and Star will retain its 50 per cent equity in Destination Brisbane Consortium (DBC) and Destination Gold Coast Consortium, as well as the Treasury hotel in Brisbane. Embattled casino operator Star Entertainment will be forced to pay about $41 million to overseas investors after failing to meet a deadline to offload its stake in Brisbane’s Queen’s Wharf development. The struggling Star Entertainment group has missed a major deadline in a deal it hoped would offload its stake in Brisbane’s Queen’s Wharf project. With more than 50 new food and beverage venues set to make up Queen’s Wharf, it’s no surprise that some of the world’s top chefs have signed on for the future-shaping precinct.
The Star Brisbane features the 5-star The Star Grand luxury hotel, and offers an exciting array of new restaurants, bars and entertainment experiences and the property’s state-of-the-art Event Centre which is home to Brisbane’s largest hotel ballroom. The deal has left employees with questions about the future of their jobs in the precinct. “For Star, the Queen’s Wharf sale is a strategic retreat from what has become a financial quagmire, candy96.fun with development costs blowing out by more than $1 billion,” he said. Star has struggled financially amid regulatory inquiries and increasingly tough gaming regulations. In exchange, Star would receive a $53 million cash injection and stakes in Gold Coast hotels near its casino there.