The $180 million deal will allow Star to keep all three of their properties and will allow Bally's to expand outside of the US for the first time in the company’s history. The company has deposited $150 million for the fine, and it is reported that shareholder Bruce Mathieson is refusing to pour more money into the company until a fine is agreed upon. On 3 March 2025, ASX suspended the company from trading for contravening listing rules by not lodging its half-yearly report, making the second trading halt in a week, as the company tried to find or complete a refinancing deal to ensure it could continue as a going concern. With a vision to be the entertainment destination of choice, The Star is proud to employ around 8,000 team members across its three properties committed to supporting the communities in which we operate. On 5 April 2016, eligible shareholders were sent a letter together with a Share Retention Form (for the Small Holding Sale Facility) or a Sale Instruction Form (for the Voluntary Share Sale Facility), and Terms and Conditions for the relevant share sale facility. Chow Tai Fook—the private investment company of the Cheng family—is participating in the Star deal even as patriarch Henry Cheng is grappling with unprecedented losses and burgeoning debts at their flagship company, New World Development.
Bally's Corporation emerged as a possible bidder for the company in February of 2025. Chris Wallin was also planning to give Star Entertainment the $200 million loan which would have been intended to help keep the company solvent for the time being. In order to attempt to keep Star afloat, the company attempted to sell its stake in The Star Brisbane. It is also specualated Blackstone will only intervene if the company collapses. The group has particular interest in the company's gambling machine assets. On 10 February 2025 Star announced it knocked back 'several' inquiries from prospective foreign investors for Queen's Warf, citing that they undervalued the asset, but is in talks with CTFE and FEC on whether to relinquish its stake in Queen's Warf.
On 7 March the company agreed to sell its stake in Queen’s Wharf for only $53m in installments, but the deal collapsed. Blackstone already is in the global casino business and owns Australian rival Crown Resorts so it may not go through on anti-competition concerns, though reports speculate authorities' stance may be soften in this special case. Later in February, it was reported that Blackstone Group was mulling an acquisition of Star Entertainment Group. On 29 January 2025, as part of possible sales of non-core assets of the company, the company announced it would sell The Star Sydney Event Centre and unspecified spaces within the complex to Foundation Theatres in order to raise $60 million. In May 2024, it was reported that multiple suitors were looking to acquire Star Entertainment and their assets. There has been speculation that they could be acquired by a larger company or they could go into administration.
The Star Entertainment Group Limited is an Australian gambling and entertainment company. For the unrelated former Canadian online gambling company, see The Stars Group. Analysts have noted that the cash burn has been as much as $100 million over three months. As Star has been pouring money into new developments, it has also been battling regulation that is lowering the amount that gamblers can punt in some markets, and bans on taking physical cash. ASIC also prompted Star to set aside $150 million in cash, in case it has to pay fines over separate action taken against it by the federal money laundering regulator, AUSTRAC.
Ross Greenwood who is the business editor at Sky News reported "Sources close to the financially troubled Star Entertainment have revealed to us that the company could enter administration within a week as its cash reserves again run dry". The troubles of Star started in 2021 after the Sydney Morning Herald reported that the company allowed money laundering and organized crimes in its casinos for years. citation needed The company was also able to sell Queen's Warf, receiving multi million dollar installments and fees to stave off administration, following conflicting reports of collapsed negotiations. The company is reported to be waiting for access to proceeds from its asset sales, which are currently waiting for state approval, as well as a separate "bridge loan", before it can refinance itself. It reportedly has spent $50 million in a month over just $75 million cash at hand in the previous report. By February of 2025, it was reported by Sky News Australia that Star Entertainment "could enter administration within a week". This followed a release of a very bleak financial report over the previous quarter, particularly that it burned through $100 million in the quarter, and fears the company has a chance of collapsing into voluntary administration by the end of February.
In addition to these issues with their properties in Queensland, in New South Wales, The Star, Sydney has been under government supervision. The company has been served a statement of claim for a securities class action in the Supreme Court of Victoria. On 13 September 2022 the NSW Independent Casino Commission (NICC) published a report finding The Star unsuitable to hold its Sydney casino license because of its conduct relating to money laundering risks.
Hard Rock International was said to be weighing a bid for the struggling company, but they subsequently stated that they were not looking into acquiring Star Entertainment. On 10 February 2025, ASIC is proceeding to sue the former board of the company in the High Court of Australia for failing to keep track of money laundering. Foster's departure came after he told the official inquiry his company was currently unsuitable to operate a compare casino reviews in brisbane in New South Wales. In April 2024, the chair for The Star Star Entertainment Group Limited David Foster resigned from his post less than a week after giving evidence to the ongoing inquiry into the license suitability of the company's The Star Sydney property.
In January 2026, Star announced it would be closing its Brisbane CBD corporate office as part of a cost-cutting initiative. Our PVP shows that we are serious about embedding D&I into our business. The Star Entertainment Group is a diverse company, requiring a large range of goods and services sourced from many suppliers. We maintain robust corporate governance policies across all of our business. Our Executive Team is responsible for overseeing the day-to-day operations of each of the Group’s properties, management decisions, and the direction of our brands. The Star Entertainment Group’s Board, chaired by Soo Kim, determine the strategic direction of the business and is comprised of experienced board members with a diverse range skillsets, backgrounds and credentials. Across our three properties, we welcome millions of guests each year and deliver unique and memorable experiences.