Star was expected to run out of cash this week but managed to pay its 8000 staff in recent days. The New South Wales Independent king billy casino instant deposits Commission (NICC) found that the Australian casino instant payouts 2026 operator had not done enough to address "governance and cultural concerns" raised in a 2022 inquiry that found it unfit to hold a licence. A Queensland inquiry found The Star actively encouraged people banned from gaming in Victoria and NSW to gamble at its casinos in the Sunshine State.
In a late-night update to the ASX on Monday, Star Entertainment revealed Bally’s would pay $100 million by Wednesday to keep the business’s doors open across Brisbane, the Gold Coast and Sydney. Let's see what top brokers think of Domino's Pizza shares following the AGM update last week. Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Star Entertainment said it would remain engaged with its JV partners and would update investors if anything changed. Star Entertainment will remain responsible for its share of future equity contributions to DBC, estimated at $200 million. This is a significant development given that the cash-strapped Spinstraial casino mobile app sought to sell the assets to boost its balance sheet.
The company is burning through cash at the rate of $35 million a month, which gives it about six weeks of funds left before emptying its piggy bank. Revenue slumped 19 per cent over the last 12 months, Reef early bird offers with Star Sydney the company’s worst-performing asset. Morningstar still expects earnings to recover in the medium term as the Queen’s Wharf development ramps up, cyclical discretionary weakness turns and regulatory costs ease. The company has taken an appropriate approach to shareholder distributions with the suspension of dividends during the pandemic. The remains their intention until suitable providing it remains within its target leverage range at the time. Star has arguably underinvested in its Sydney age check casino, however the $500 million sunk in improving its VIP gaming segment is unlikely to deter Crown casinos from capturing 60% of its VIP market share by fiscal 2025. Boosted by new developments in Queensland and a recovery from current headwinds, we project a 5% annual revenue growth for the five years ending fiscal 2029.
Membership fees for the quarter hit $US1.19 billion, up from $US1.11 billion in the second quarter of 2024, with the company reporting 78.4 million paid memberships and 140.6 million total cardholders. The retail giant's second-quarter revenue increased to $US63.72 billion, from $US58.44 billion during the same quarter in fiscal 2024. "The tariffs are very fluid right now. So it's hard to really give any predictions on what we can do, but we are prepared, our people are very well equipped to lower prices and defer any cost increase that come our way." "Sometimes the margins are much tighter in those categories, but they [buyers] are prepared to work closely with the suppliers and see how efficient we can bring goods to market - is there anything we can mitigate in those categories. The Insurance Council also often puts out detailed reports on the economic impacts of natural disasters.
The data used in our company analysis is from S&P Global Market Intelligence LLC. Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The stock is down more than 58% in the past 12 months, and there's no saying when the sell-off might end – or if it will. There are many moving parts/challenges when considering Star Entertainment's earnings outlook with management's ability to execute the largest risk, particularly relating to cost-out and asset sales – likely beyond non-core. It cited a "degradation" in earnings expectations for FY25 due to Star's current set of challenges. Rather than seeing a potential bargin at these current levels, brokers are recommending investors steer clear of the company for now.
The report by the New South Wales Independent national casino Australia horse racing Commission (NICC) concluded the operator had not sufficiently addressed the "governance and cultural concerns" highlighted in a 2022 inquiry that initially found it unfit for licensing. The company’s decision to get out of Brisbane and focus on the Gold Coast and Sydney was driven by necessity, and a shift in its direction. The hit to one of Australia’s largest builders makes it another casualty of the ambitious – and financially disastrous – pet project of Star Entertainment.
The ECB lowered its 2025 economic growth forecast for the fourth straight time on Thursday, putting expansion in 2025 at just 0.9, only slightly above the 0.7% pace recorded last year. Easing for the sixth time since June, the ECB lowered its deposit rate to 2.5% in a nod to slowing inflation and faltering growth, and said that rates were still restricting growth, even if less so than in the past. "It is out of step with community expectations and other essential services sectors like energy," Ms Tonkin said.
The published report states that it made a loss before interest, tax, depreciation and amortisation costs of $27 million for the quarter to June 30, on revenue of $270 million. Star said Destination Brisbane Consortium (DBC), in which it continues to hold a 50 per cent equity stake, has a debt exposure of $1.4 billion. It now also remains exposed to $200 million of future equity contributions to DBC due to massive cost overruns at the $3.6 billion resort.
Star’s board has until the close of business on Tuesday to finalise the group’s accounts and get lenders’ relief, or the ASX will step in. The money laundering regulator’s public advice on using consultants contained some pretty good internal advice. Management of entertainment and leisure destinations with gaming, entertainment and hospitality services. As Jumbo Interactive shares slide, its bold global deals may be building the next chapter of growth.
