Consumer
Star Entertainment Says Future as Viable Business in Doubt
- Star has limited ability to raise extra A$150 million of debt
- Company warns of ‘material uncertainty’ about its survival
The Star complex in Sydney.
Photographer: Brent Lewin/BloombergStar Entertainment Group Ltd. said its future as a viable business is in doubt as the embattled Australian casino operator struggles to raise capital.
The company said Monday it’s exploring several ways to improve its liquidity, but has “limited” ability to raise A$150 million ($93 million) of subordinated debt. That’s a key condition of accessing an agreed lifeline of a further A$100 million of borrowings.