Star Entertainment former executives, directors face Federal Court, ASX drops 0 3 per cent on tariff fears

Blackjack cards are not touched by players and poker cards are changed every hour, try one of our Poker-based Yukon Gold best games. Monte Casino data protection game dice this enables customers to use online gambling platforms more securely and responsibly, you will be given a unique link that you will use every time you reference the company. Star Entertainment’s major Macau-based investor has increased his stake in the company for a second time in a week, with the mystery businessman now owning almost 7 per cent of the struggling Gibraltar casino license operator. Shares in The Star Entertainment Group Limited (“Star”) tanked last week after their first day back on the ASX in almost a month. This ended a prolonged trading halt further aggravated by a slap-on-the-wrist ASX suspension for failure to provide timely financial accounts. The longer-term investment case is clouded by the threat of Crown Sydney, liquidity risk and tightening regulatory measures. This article explores the once monopolistic establishment and why we believe its trading over 50% below its fair value.
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Airtasker will look to expand rapidly overseas after a new capital raise and an expanded strategic partnership. Star Entertainment said it would remain engaged with its JV partners and would update investors if anything changed. Star Entertainment will remain responsible for its share of future equity contributions to DBC, estimated at $200 million. The parent company’s guarantee of Star Entertainment’s 50% share of the DBC debt facility remains in place. This is a significant development given that the cash-strapped casino sought to sell the assets to boost its balance sheet.
There are several other one-off costs in the horizon, with the securing of additional debt and material improvements in operating conditions being necessary to fund these obligations. We anticipate medium-term recovery in the operating conditions for casinos, but Star is in need of an immediate solution. The “ongoing financial and liquidity challenges” have led Star and its directors to seek external advice on operating under safe harbour provisions.
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Since 2021, the share price for Star Entertainment Group has collapsed from $3.76 to 13 cents today, wiping billions in market value. Whilst Brisbane has been holding ground, its Sydney national casino Australia top online slot software has experienced a fall in gambling turnover of 14 per cent year on year. To add further strain to profits, the New South Wales government is considering increasing taxes on Lucky Ones gaming tournaments schedule revenue.
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. The gains were largely across the board with 128 companies making gains, 65 losing ground and 7 going nowhere from Friday’s close. The company drew down the first $100 million of a new loan facility in early December, but has raised concerns about its ability to meet the conditions required to access a further $100 million. Just a quick update on the waxing and waning fortunes of Donald and Melania Trump and their recently launched meme coins we’ve been following today. Oxfam Australia is calling on the federal government to introduce a wealth tax of between 2 and 5 per cent on the super-rich.