The Star ASX: SGR suspended over accounts failure with administration on the cards

While Star has pointed to an unnamed party as key to its survival, it has not provided any details as it continues to negotiate a deal. The Australian Financial Review can reveal that this prospective financier is Salter Brothers, led by wealthy businessmen Paul and Robert Salter and backed by offshore funds. “I would note that the regulatory environment and challenges [of] technology upgrades and other matters we’re dealing with in best real money gambling Australia 2026 review are quite unique to the Australian market. The NSW and Queensland governments have shown little interest in bailing out the company, and on Friday they pointed to the impact of Star’s precarious situation on jobs.
He said he would not like to see the company go into liquidation “for the people’s sake”. “To me, it has been a disaster dealing with the management of Star and online casino mobile bonus I think … there is no doubt the board should be blamed for how bad it is,” he told ABC Radio Brisbane. “What we would want to see is the government work to make that King Johnnie KYC process as quick as possible, while still ensuring that any new operator is compliant with the regulations and the legislation.” He said the government would also need to move quickly to approve a new operator should there be a sale. Mr Jones said in the event Star did go into administration the union would want the state governments to work quickly with the administrator and existing lenders to ensure the administration was funded and the doors stayed open.
Copyright © 2025 FactSet Research Systems Inc.Copyright © 2025, American Bankers Association. “They’re not highly paid people — they’re struggling with the cost of living as everyone else is and they can’t afford to take a pay cut.” The union was not aware of any requests for staff to take pay cuts or give up benefits to help keep the business afloat.
Star announced as recently as 19 August that its report for the financial year ended 30 June 2024 would be published on 31 August. The company, which owns and operates 19 venues in the United States, has offered a $250 million recapitalisation proposal that would hand it control. Bally’s Corp (BALY) makes a surprise $158M bid for Australia’s Star Entertainment (EHGRF) to recapitalize assets. Shares edge higher; banks lift; Star’s sharemarket return; ANZ tips 40pc chance of recession; WiseTech’s board update; two MinRes directors exit. The allslots casino poker no deposit tips 2026 operator has been negotiating with its lenders over changes to covenants on borrowings of more than $400 million. high limit gambling Australia 2026‘s publicly traded wealth management firms are drawing interest from investors attracted to the country’s thriving pension system. Insignia, formerly known as IOOF, oversees approximately $327 billion in client assets, making it the third-largest player in Australia’s superannuation sector.
Australian shares fell to its lowest close in more than six months, wiping off about $50 billion in market value. Star Entertainment will receive a $53 million lifeline, with its Hong Kong joint venture partners confirming they will buy its stake in the Brisbane Queen’s Wharf development, pulling it back from the brink of collapse. As well as negotiating with lenders, Star Casino best Bitcoin casino has pleaded for help from state governments, and on Friday, Star chief executive Steve McCann called for its various stakeholders to come together. As it fights for survival, Star said it was continuing discussions to attempt to deal with the crunch on its finances, but there was no guarantee it would be able to reach a deal to resolve its situation. It acknowledged the uncertainty over its ability to continue operating if the negotiations were unsuccessful.
Oxfam’s latest inequality report has found the world’s top 10 richest people (all men) made a whopping $150 million a day last year. It found that half of those using account-based pensions draw their super down at the legislated minimum rate. The ABC’s resident economics guru Alan Kohler has hammered out this piece, the first of what will be a weekly column on Mondays this year, on the entrenched US exceptionalism and its extraordinary productivity gains in recent times.