Reported about 18 hours ago
Star Entertainment Group Ltd. shares dropped to an unprecedented low as the casino operator revealed significant cash shortages, despite having recently secured financial support. The company's available cash plummeted to A$79 million, following a A$107 million cash burn in the last quarter, exacerbated by regulatory fines and challenging trading conditions. Analysts express concern over Star's ability to secure further debt financing, raising liquidity risks amidst ongoing regulatory scrutiny.
Source: YAHOO