Star Entertainment tumbles on fresh warning, ASX rises, Trump meme coin price swings as it happened

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, Mr O loyalty program brokers are recommending investors steer clear of the company for now.
Unless Wang has been given regulatory approval to move beyond 10 per cent of the Tattersalls hotel casino coupon group (and there is no suggestion he has), he can’t contribute to a recapitalisation of the company. If he had been lined up or approached by the Star board as part of the rescue attempt, the company would need to have disclosed any deal or association. Star shares have been suspended from trade on the Australian Securities Exchange since March after the company failed to submit its half-year accounts. Embattled casino group Star Entertainment has secured a $300 million lifeline from US gaming giant Bally’s, which has made a specialty of picking up “distressed” casinos.
Before signing the accounts, a board of directors must be satisfied that the company is a “going concern” – that it can pay its debts when they fall due. We’ve obviously been working with them over a period of time on a range of issues, including the importance of the employment that is there, and will continue to do so,” she said. Bruce Mathieson, who operates poker machine and pub empire Australian Liquor and Hospitality with Woolworths, holds about a 10 per cent share in Star and has been interested in buying the Gold Coast King Billy casino payout speed. It’s been facing serious operational challenges, burning through $107 million in three months and reporting an available cash balance of $79 million to the ASX in January. McCann, for years the chief executive of property group Lend Lease, knows a thing or two about gambling. In recent months, a series of senior executives appointed by Blackstone have parted ways with Crown including boss Ciaran Carruthers and his offsider Justin Casey.
It has been seeking a rescue package to stay afloat but until now has been unsuccessful, with the group most recently failing to secure $940 million from property development fund Salter Brothers Capital. United Workers Union welcomed the deal for the 9,000 employees across the group who could have been left high and dry if it collapsed. The Motley Fool stands behind our products and our membership-fee-back guarantee. If for any reason you are not 100% satisfied with your premium subscription, simply notify us within the first 30 days and you won’t pay a cent.
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, baccarat online 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.
“That’s money that could be far better spent on groceries, rent or mortgage repayments.,” Canstar’s Sally Tindall said. Sometimes, the modelling looks at the impact of one-off large scale disasters like cyclones. The index is down more than 7.5 per cent from its all time high of 8,615.2 on February 14, and has fallen for four straight sessions amid uncertainty over US trade policy announcements. You can keep abreast of the Star Entertainment deal story from our business reporters. We’d like to share more about how we work and what drives our day-to-day business. Other analysts have remained silent about Star since its financial update was delivered last week.
“It’s going to be important for both government and the Star online casino VIP programs, or whoever ends up taking that over, for it to be an ongoing viable solution.” From now on, he says, the business will be about accommodation, retail and restaurants with gambling as a sideline. No longer listed on the ASX, its financial performance is difficult to gauge but if it had hopes of a quick turnaround and easy profit, they may have been dashed.
The longer-term investment case is clouded by the threat of Crown Sydney, liquidity risk and tightening regulatory measures. This article explores the once monopolistic establishment and why we believe its trading over 50% below its fair value. Star Entertainment’s shares will remain suspended for at least another week as the Aus96 casino mobile security operator’s chief executive, Steve McCann, tries to secure the last of a series of deals critical for the company to stay solvent.