Entertainment
Star Examines Its Liquidity Before Key Sydney Casino Verdict
- Star reviewing financial and liquidity position with advisors
- Australian gaming company’s future still hangs in the balance
Star’s shares have been suspended in Sydney since last week.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Star Entertainment Group Ltd. is assessing its financial liquidity as it prepares for a critical verdict from the regulator on the future of its flagship Sydney casino.
An inquiry last week found Star remained unfit to operate the casino — hamstrung by inaction, dysfunctional leadership and questionable ethics. As the company awaits the regulator’s formal response to the damming probe, new Chief Executive Officer Steve McCann is trying to win time with a salvage plan aimed at preventing a corporate disaster.