Star Entertainment shares plummet after trading resumes while casino giant searches for financial lifeline

Brisbane’s largest hotel ballroom, perfect for weddings, corporate functions, gala dinners, and large-scale events. Ideal for fresh-air leisure and community events. Ideal for corporate parties and year-end celebrations. From dazzling shows and themed parties to gourmet dining and exciting gaming events, discover why this venue is perfect for leisure, celebrations, and unforgettable nights. Baccarat tables cater to both casual players and high rollers, with minimum bets starting around $20 and maximum limits reaching several thousand dollars.
Star said on Wednesday the deal was “unlikely” to be done by July 31. The heads of agreement was terminated as a result, candy96.fun and Star will retain its 50 per cent equity in Destination Brisbane Consortium (DBC) and Destination Gold Coast Consortium, as well as the Treasury hotel in Brisbane. Embattled casino operator Star Entertainment will be forced to pay about $41 million to overseas investors after failing to meet a deadline to offload its stake in Brisbane’s Queen’s Wharf development. The struggling Star Entertainment group has missed a major deadline in a deal it hoped would offload its stake in Brisbane’s Queen’s Wharf project. With more than 50 new food and beverage venues set to make up Queen’s Wharf, it’s no surprise that some of the world’s top chefs have signed on for the future-shaping precinct.
You must be at least 18 years old to enter any Australian casino, including all The Star properties. Regulatory Compliance and Trust As a licensed Australian casino operator, The Star adheres to strict regulatory standards set by state gaming authorities. The Star Club Loyalty Program The tiered loyalty program ranges from Silver to Diamond status, allowing members to accumulate points through gaming activities, dining purchases, and hotel stays. Upon registration, members typically receive around $20 in gaming credits to explore the casino’s offerings, along with potential meal vouchers for participating restaurants within the complex. Welcome Benefits New members joining The Star Club receive welcome rewards including complimentary gaming credits and dining experiences.
The casino operator entered a trading halt minutes before the Australian share market opened on Friday after failing to post its half-year financial results. Star shares dropped 16.3 per cent to a record low of 9.2¢ after the company confirmed on Friday that the deadline to renegotiate the sale of its 50 per cent stake in Queen’s Wharf to Chow Tai Fook Enterprises and Far East Consortium had passed with no progress from the parties. The casino giant said it was anticipating a funding deal on Friday which it would consider, but again warned of the possibility of facing financial collapse. Star, which operates casinos in Brisbane, the Gold Coast and Sydney, entered a trading halt before the Australian share market opened on Friday after failing to post its half-year financial results.
The deal still needs to pass regulatory checks and be approved by the Queensland government. A Queensland government spokesperson says the deal is subject to government approval. “That also means returning guests will find something new to experience, not just here at The Star but also across both sides of the river.” “We want to ensure our team members are prepared, our facilities have been tested, our processes are right and importantly our guests have an exceptional experience that they will talk about and come back to experience again,” he said.
The casino is located in the Queen’s Wharf precinct, right in the heart of Brisbane. The Star Brisbane Casino is more than just a casino — it’s a premier entertainment destination located in the heart of Queen’s Wharf, Brisbane. At The Star Brisbane, guests can enjoy a wide range of gaming options with flexible betting limits suitable for beginners and high rollers alike. The casino features hundreds of slot machines, including popular titles like Lightning Link and Dragon Link.
Please note, car park availability is not guaranteed as part of a hotel booking. We offer guests of The Star Grand a special car parking flat rate of $45 per night, for the duration of their stay. “Other global casino giants like MGM Resorts, Caesars Entertainment, or private equity firms could also be interested in acquiring a distressed Australian casino portfolio. Mr Hughes said if Star was forced to sell the rights to operate a casino, buyers were circling. If Star Entertainment was to fall into administration, those administrators would take control of Star’s assets, including Queen’s Wharf, and its liabilities.
The Queensland government has indicated it wants a casino to continue operating at Queen’s Wharf but won’t offer financial support or concessions to Star. Just a few days later, Star reached a deal with US casino giant Bally’s for at least $250 million in exchange for a controlling stake in the company. At the time of writing, Star shares are trading at 13 cents. In all, the casino, four hotels, retail venues and restaurant spaces would cost an estimated $3.6 billion — Queensland’s biggest ever infrastructure project.