Today
- Updated
- Casinos
Star Entertainment sells Sydney events venue in fire sale
The ASX-listed company had warned earlier this month that it was not certain whether it could avoid collapse, as debts mounted and revenue remained weak.
- Zoe Samios
Death of DEI won’t stop Sportsbet’s Barni Evans
Australia’s largest online gambling company seems intent on rainbow washing away the misery.
- Mark Di Stefano
Yesterday
- Exclusive
- Gaming & wagering
$40m not enough: The AFL’s plan to grab more gambling money
The sport’s administrators make up to $40 million from wagering deals every year. It is hoping to significantly increase that by negotiating a new agreement.
- Zoe Samios
This Month
- Exclusive
- Gaming & wagering
Inside the high-roller room at struggling Star’s new casino
Bored-looking dealers amid golden opulence. There are not as many big-paying customers as Star Entertainment would like at the most exclusive space in its sparkly new Brisbane casino.
- James Hall
Star’s lenders bring in gun restructuring lawyer as casino risks collapse
The decision to hire Nikki Smythe is understood to have been driven by Deutsche Bank, which is shaping up as a key player in deciding Star’s future.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Casinos
Why Star is like Stephen Hawking’s black hole
The publicly exposed failures of Australia’s casino industry and Star in particular is a case study in geese, golden eggs, hubris and astrophysics.
- Tony Robinson
- Updated
- Casinos
Heavyweight Star investors land in Brisbane as casino teeters on brink
The company said it was “no certainty” it would be able to raise any more money to avert collapse as it discusses its options with major shareholders.
- Zoe Samios and Anthony Macdonald
- Opinion
- Chanticleer
A rescue deal for Star won’t solve its existential crisis
Star’s mounting losses show the urgency of its ugly situation. But even winning the support of governments and lenders won’t solve its biggest problem.
- James Thomson
- Exclusive
- Casinos
Star’s Macau mystery man is a coal magnate with a taste for luxury
Why did Xingchun Wang choose now to invest in Australia’s gambling industry? The plot thickens in casino-friendly Macau, the Chinese special administrative region where he resides.
- Jessica Sier, Zoe Samios, Amelia McGuire, James Hall and Primrose Riordan
- Breaking
- Gaming & wagering
NSW and Qld unmoved by Star’s renewed plea for tax relief
NSW Premier Chris Minns was emphatic the government would not offer respite to the struggling gaming company whose casinos are ailing.
- James Hall and Primrose Riordan
- Opinion
- Chanticleer
Star talks hinge on $350 million question
Star Entertainment’s Steve McCann is yet to see the whites of his lenders and governments’ eyes. The time is coming.
- Anthony Macdonald
On the trail of Star Entertainment’s mystery Macau shareholder
Who is Xingchun Wang, and what does he want with the ailing operator of casinos in Sydney, Brisbane and the Gold Coast that is teetering on the brink of collapse?
- Zoe Samios, Amelia McGuire, James Hall, Primrose Riordan and Jessica Sier
- Updated
- Gaming & wagering
Star asks for tax reprieve after burning through $50m in a month
The casino operator is in last-ditch talks with lenders to ward off a collapse. Both NSW and Queensland have already said they would not offer tax concessions.
- Anthony Macdonald and Zoe Samios
Tabcorp approaches Hong Kong racing heavyweight for key appointment
The move, if successful, would be the second marquee hire at the ASX-listed wagering group after former Paramount executive Jarrod Villani joined last month.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Star’s mystery Macau backer hikes stake for second time in a week
Xingchun Wang now owns almost 7 per cent of the struggling casino giant. The company appears to have little idea about the businessman’s intentions.
- Amelia McGuire
Mystery Macau businessman emerges as major Star Entertainment investor
The struggling casino operator could fall into administration within months. New disclosures show Xingchun Wang has been accumulating shares since September.
- Jessica Sier
- Updated
- Casinos
Star has six weeks to find financing as NSW, Queensland rule out help
The company, which operates casinos in Sydney, Brisbane and the Gold Coast, has been burning through cash faster than the market expected as gamblers stay away.
- Amelia McGuire and Anthony McDonald
Crown sells London’s high-end Aspinall’s to Las Vegas giant Wynn
The Blackstone-owned casino operator has been overhauling its portfolio, last year selling its stake in Japanese restaurant chain Nobu in a $180 million deal.
- Zoe Samios
Battling Star Entertainment loses the confidence of its banks
Once a $4 billion casino giant, Star could land in voluntary administration within months as its poor financial results discourage lenders and possible bidders.
- Anthony Macdonald and Kanika Sood
- Exclusive
- Courts
Star Entertainment settles fight over superyacht sale
It has agreed to sell the vessel to a wealthy Cypriot businessman, who had sued the casino operator alleging that it tried to back out of an earlier deal.
- Max Mason
Star warns of urgent cash crunch, liquidity pain
Embattled casino operator Star Entertainment says it has just $79 million left in cash as it attempts to stay afloat.
- Zoe Samios
‘I made millions from sports betting, without ever backing a winner’
By carefully analysing reams of data and taking advantage of changing odds, Peter Webb has made a tidy sum since the easing of online gambling regulations in the UK.
- Mattie Brignal
December 2024
- Exclusive
- Casinos
Crown Resorts wants to add pokies to the mix at its Sydney casino
The Blackstone-owned hospitality and gambling giant has been prohibited from installing gaming machines under terms struck when it secured its NSW licence.
- Zoe Samios
AUSTRAC sues Ladbrokes and Neds owner
Entain allegedly did not conduct appropriate checks on 17 high-risk customers and deliberately obscured the identity of some through use of pseudonyms.
- Zoe Samios
Queensland defers Star’s licence suspension decision
A decision on suspending Star’s licence has been deferred as the new Queensland government vows to scrutinise troubled gaming operator.
- James Hall