Reported 3 days ago
Star Entertainment's attempt to sell a 50% stake in its A$3.6 billion Brisbane resort has collapsed as investors refused to extend talks, causing its shares to dive to a record low. This failure adds further strain to the Australian casino operator, which is facing potential bankruptcy due to ongoing regulatory issues and significant debt. The company is now obliged to repay investors A$41 million and may face future financial burdens as it approaches a critical debt refinancing in December.
Source: YAHOO