Latest The Star Entertainment (Asx:Sgr) News

The NSW Government has postponed the planned reduction of the daily cash limit for gaming customers at The Star Sydney, keeping the $5,000 cap in place until August 2027 under strict monitoring conditions.

The Star Entertainment Group has terminated its binding Heads of Agreement with joint venture partners over Brisbane and Gold Coast developments, retaining its assets but incurring significant repayment and reimbursement obligations.

The Star Entertainment Group reported steady Q4 FY25 revenue of $270 million but widened its EBITDA loss to $27 million, reflecting ongoing regulatory pressures and operational challenges. The company secured $233 million from strategic investors Bally’s Corporation and Investment Holdings, while negotiations continue over its Brisbane joint venture exit.

The Star Entertainment Group has extended the termination date of its binding heads of agreement with joint venture partners to 31 July 2025, with significant repayment obligations looming if negotiations falter.

The Star Entertainment Group updates investors on stalled negotiations with its joint venture partners over the Destination Brisbane Consortium transaction, facing a looming termination of their binding agreement.

The Star Entertainment Group is asking shareholders to approve a $400 million strategic investment package critical to its survival, involving convertible notes from Bally's and its largest shareholder. This move aims to secure the company’s future amid ongoing legal challenges and financial strain.

The Star Entertainment Group reported a 9% revenue decline to $271 million in Q3 FY25 alongside a $21 million EBITDA loss, driven by seasonal factors and operational challenges. The company is advancing strategic investments and joint venture exits amid ongoing liquidity pressures and regulatory hurdles.

The Star Entertainment Group has received a $650 million debt refinancing proposal from Oaktree Capital Management, offering a potential boost to its liquidity but shadowed by significant conditions and uncertainty.

The Star Entertainment Group has declined non-binding offers from Chow Tai Fook Enterprises and Far East Consortium for its 50% stake in the Destination Brisbane Joint Venture, citing insufficient value. The company continues to explore liquidity options but faces ongoing uncertainty about its financial stability.

The Star Entertainment Group has agreed to sell its Sydney Event Centre assets to Foundation Theatres for $60 million, marking a strategic shift in its property portfolio.