February
It’s Star Entertainment’s moment of truth and first up is the board
Star’s status should be clear by Friday, by when its board – already operating in safe harbour – would have put pen to paper on signing off on its status as a “going concern”.
US casinos group Bally’s Corporation joins Star Entertainment scramble
As the clock ticks on Star Entertainment’s future, a newcomer is taking a look at its casinos.
Tabcorp delivers profit jump as Gill McLachlan swings the axe
Higher revenues and lower costs have helped the wagering giant meet expectations for the first time since it demerged its lotteries business three years ago.
Light & Wonder in $1.05b acquisition; taps Jarden
The dual-listed gaming giant will cough up $850 million in cash upfront and pay out $200 million on a four-year revenue-based earn-out.
Pokie machine maker Ainsworth close to paying out for shareholders
Ainsworth has revived takeover talks with its largest shareholder, Austria’s Novomatic.
Betr mulls revisiting controversial 100-to-1 promotion as it expands
The ASX-listed bookmaker is buying Queensland-based TopSport in its second major deal in a year, putting it “right on the heels” of major rival PointsBet.
Matt Tripp’s Betr raises cash to buy Queensland bookie
The target TopSport reported a turnover of $198.9 million for 11,000-plus gamblers in the December half of the financial year.
January
Brisbane Broncos give Star Entertainment sponsorship payment reprieve
The major NRL club signed the embattled casino giant on as a back-of-jersey sponsor in 2022, with a five-year deal worth about $1.5 million every season.
$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.
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.
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.
Sportsbet hit with multimillion-dollar class action
Gamblers who lost money betting on “live” sporting contests are suing the betting giant Sportsbet to recoup millions in losses.
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.
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.
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.
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.
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.
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.
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.
Cash burn puts Star on its deathbed. Its only hope is a deal
Only a white knight can save the casino operator from becoming Australia’s biggest corporate collapse since Virgin Australia in 2020.