Star Entertainment close to collapse with casino group set to run out of cash before the weekend (www.abc.net.au)

submitted 11 months ago by zero_gravitas@aussie.zone to c/australia@aussie.zone

9 comments fedilink hide all child comments

In short:

Star Entertainment could enter administration on Wednesday with the company set to run out of cash by the end of the week.

The struggling casino operator was suspended from trade on the ASX on Monday.

What's next?"

Star's CEO Steve McCann is still searching for a deal to refinance the company's loans to prevent it from collapsing.

top 9 comments

sorted by: hot top controversial new old

[-] a1studmuffin@aussie.zone 26 points 11 months ago

It takes a special kind of mismanagement to go broke running a casino. Bravo.

[-] sqgl@beehaw.org 7 points 11 months ago

Trump playbook.

[-] dumblederp@aussie.zone 20 points 11 months ago

Good. Fuck casinos and pokies.

[-] TheCriticalMember@aussie.zone 13 points 11 months ago

[-] Nath@aussie.zone 4 points 11 months ago

I'm flipping between this response, and @a1studmuffin's response - how the hell do you go broke running a casino? A state monopoly casino with no competition?

[-] TheCriticalMember@aussie.zone 3 points 11 months ago

Maybe the execs went to trump university...🤔

[-] tombruzzo@aussie.zone 10 points 11 months ago

Guys, please pray for Star

[-] No1@aussie.zone 6 points 11 months ago* (last edited 11 months ago)

The NSW Libs even shutdown Sydney nightlife to funnel everyone to the Star Casino. That didn't save them in Sydney.

Packer's Pecker took the high rollers, and it's barely different from any club, pub, or rsl. And some of those are significantly nicer environments.

[-] Jumuta@sh.itjust.works 4 points 11 months ago

nice

this post was submitted on 05 Mar 2025

26 points (100.0% liked)

Australia

4789 readers

66 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

The Environment, post it to Aussie Environment
Politics, post it to Australian Politics
World News/Events, post it to World News
A question to Australians (from outside) post it to Ask an Australian

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

When posting news articles use the source headline and place your commentary in a separate comment

Banner Photo

Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone

founded 2 years ago

MODERATORS

lodion@aussie.zone

bestusername@aussie.zone

eatham@aussie.zone

Nath@aussie.zone