Star Entertainment could be broke within weeks with NSW and Queensland refusing to bail out the embattled casino operator after it warned it had just $79 million left in its bank account.
The company, which operates casinos in Sydney, Brisbane and the Gold Coast, has been burning through its cash reserves faster than the market expected as gamblers stay away from its precincts, and expenses pile up – including millions of dollars of fines for licence breaches.
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Amelia McGuire covers technology from the AFR's Sydney newsroom. She was previously the aviation, tourism and gambling reporter for The Sydney Morning Herald and The Age. Connect with Amelia on Twitter. Email Amelia at a.mcguire@afr.com.au
