This Month
Ripped sheets, urine stains, no towels: Crown guests slam dirty rooms
Travel reviews on booking websites have complained about the firm’s cleaning standards for Sydney rooms that cost nearly $700 a night.
Star, Crown push NSW government to delay limits on cash use in casinos
While the state has already rejected a request from the Blackstone-owned Crown for poker machines in Sydney, the two companies are hoping for other reprieves.
Chris Minns blows up Crown pokie dream at Sydney casino
The NSW premier has ruled out lifting a restriction on pokies at Sydney’s second casino after a scathing report on failed harm minimisation.
Star Entertainment says $100m is all it has for AUSTRAC penalty
The financial crime watchdog says the court should disregard casino operator’s threat that it would collapse under the weight of a $400 million fine.
High-risk junkets accounted for 14pc of Star’s revenues for five years
Documents filed with the Federal Court show the casino giant admitting high-roller trips which raised money-laundering issues were a huge part of its business.
Star pleads for mercy in AUSTRAC money laundering case
The casino group is arguing it has limited capacity to pay a penalty for alleged money laundering offences lobbed against it by the financial crime watchdog.
May
Blackstone’s Crown nears final regulatory hurdle in WA
The West Australian government said an independent monitor put in place after damning money laundering findings had concluded its work at the casino.
Pollies should kick their poker machine addiction
State and territory goverments are blinded by the lustre of gambling revenue to the social ills pokies cause.
‘Grave social evil’: Howard urges government to crack down on pokies
The former prime minister is calling for regulatory reform following an investigation into the distribution and ownership of poker machines in Alice Springs.
How a Sydney billionaire became the pokies king of Alice Springs
Sam Arnaout has built a $3.1 billion pub and pokie fortune by flying below the radar. For some, however, it is coming at a high cost.
April
Star’s earnings outlook worsens as it prepares for new owner Bally’s
The casino group has plunged to a $21 million EBITDA loss for the March quarter, and says uncertainty remains about its ability to operate as a going concern.
Has Bally’s met its match in an impossible Star turnaround task?
The American giant has turned around plenty of casinos in the past. Now it is turning its attention to tackling its most daunting challenge yet.
Star attempts to grow revenues after $300m loss in horror six months
The casino operator said that there were material uncertainties about its ability to operate, with its Brisbane complex written down and a fall in revenue.
Star accounts reveal Bally’s is trying to catch a falling knife
The gaming group isn’t out of the woods. If its shares are worth much, you have to squint really hard to see it.
Bally’s chairman Soo Kim flies in to finalise Star Entertainment deal
The businessman’s visit, his second in two months, comes as the group’s Hong Kong backers are also in the country to take ownership of its Brisbane complex.
Star as we know it will be over, top execs cleaned out: Bally’s
Star Entertainment’s new controlling shareholder says there is still money to be made in gambling but the company had been badly managed for years.
Star Entertainment to sign $300m deal with US casino giant Bally’s
The terms are expected to be finalised following a weekend of negotiations.
Desperate Star Entertainment asks Bally’s to fatten up a bail-out
Term sheets are flying as Star and its bankers try to secure a final lifeline for the casino operator.
Star turns to US casino giant Bally’s as $750 million lifeline fails
Star was trying to reach a deal with its potential funder until late on Tuesday, but had failed to agree to terms including how to meet its near-term costs.
The stand-off that blew up Star’s super-sized debt deal
Nearly a month of exclusive negotiations to save the casino giant have failed – and now it is over to Plan B. The clock is ticking louder than ever.