Star Entertainment has warned it has just $79 million left in cash – far less than it spent in the past three months – as it struggles to attract customers and cut costs.
The company, in an ASX statement late on Wednesday, said it spent $107 million in the three months to December 31. The company, now led by former Crown Resorts chief executive Steve McCann, warned it was facing challenges fulfilling the conditions of a $100 million loan facility it had lined up.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
