Shares of Star Entertainment Group tumbled to another all-time low today as the Australian casino operator faces a liquidity crunch and crisis of confidence among its lenders. The Star Gold Coast casino at night. The operator is facing a significant cash crisis. (Image: Star Entertainment Group) In a report out Thursday, Morningstar analyst Angus Hewitt noted that Star has AUD 79 million in cash on hand as of the end of 2024, down from AUD 107 million at the end of the third quarter. At that burn rate, the gaming “would be lucky to make it to its interim results on Feb. 28, 2025 without a lifeline.” The gaming company is also encountering difficulty utilizing a credit facility that could keep it afloat. Star is struggling to fulfill conditions to unlock the second AUD 100 million tranche of its debt facility. This includes additional subordinated capital of at least AUD 150 million, likely to be equity,” said Hewitt. Amid a… Read More
Category: Asia Pacific Gaming, Financial, asia pacific gaming
Source: Casino.org
