COVID-19: The Star flags new response to coronavirus crisis
The operator of The Star Gold Coast has called an immediate trading halt ahead of an announcement. It comes as the casino and food and beverage outlets close while the hotels remain open.
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THE Star has called an immediate trading halt ahead of an announcement regarding trading conditions amid COVID-19.
Yesterday Prime Minister Scott Morrison announced new measures to stop the spread of coronavirus, including stage one of a nationwide shutdown to feature licensed venues, gyms, cinemas and casinos.
The company this morning closed its casino on the Gold Coast, including the food and beverage outlets, at 4am for its four-hour clean and did not reopen as normal.
The hotels (including The Darling) remain open with guests having access to in-room dining.
Star Group, which operates The Star Gold Coast on Broadbeach Island, said a share trading halt is necessary as it expects to make an announcement regarding “revised operating conditions to be adopted following further developments in governmental responses to the novel coronavirus and related impacts on the Star’s business”.
The company said an announcement is expected to be made by the start of trade on Wednesday or earlier.
A Star spokesman said the company is “working through the significant impacts on our business”.
“The priority at present is to make sure we keep our valued team members informed about what this means for them and our properties in Sydney, Brisbane and Gold Coast.
“We will provide further updates at the appropriate time.”
The Star Gold Coast has hundreds of staff working for bars and licensed venues in the casino as well as on the gaming floor.
The announcement of new measures follows an earlier move by Star to close every second gaming machine and electronic table game to comply with social distancing requirement as well as reduce seating at table games and capacity at its venues to under 500.
The Star share price has fallen by 49 per cent since March 11 amid a broader sell-off of stocks.
It was at $1.615 before the trading halt was announced.
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