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Later that month Oaktree Capital Management offered a $650 million loan to help refinance the company’s debt. The share price bumped up to $0.13 on 13 January after mystery speculators bought up shares of the company, amid an otherwise dismal day on the stock market after inflationary revelations. 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.
As of January 2025, AUSTRAC is currently calculating a fine for breaching counterterrorism and anti-money laundering laws. There was ‘not a scenario’ in which it would be able to run the property unsupervised. The Queensland Government announced on 20 July 2015 that Echo Entertainment as 50% joint venture partner of the Destination Brisbane Consortium was the preferred tenderer for Queen’s Wharf, Brisbane, beating rival Crown Resorts. Star owned a 50% stake in the Sheraton Mirage resort on the Southport Spit, that it sold in 2023 for $192 million. Star Entertainment holds one out of Queensland’s four casino operation licenses. The deal has been in the works since talks began in February last year. In a statement, director and co-CEO of CTFE Christopher Cheng said the deal would provide “long-term stability” for Queen’s Wharf and its staff.
Seeing a person’s growth and change since they affirmed has been remarkable and is the perfect story of how allowing people to be their authentic selves really does create a positive impact. Secondly, I was invited to help reintroduce a team member who was affirming their gender to their department. I have been part of the company for over 21 years, serving in various capacities.
The company re-deployed corporate staff to offices at its casino sites in Sydney, Gold Coast, and Brisbane. In January 2026, Star announced it would be closing its Brisbane CBD corporate office as part of a cost-cutting initiative. For the unrelated former Canadian online gambling company, see The Stars Group. Star told investors in August it had finally signed an on-again, off-again deal with the controversial Hong Kong partners. Far East Consortium (FEC) is an international property developer that commenced operations in Australia in the mid 1990s. It is one of Asia’s largest diversified conglomerate with interests in real estate, consumer and hospitality sectors globally and a proven track record in long-term tourism and infrastructure investments.
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. He was additionally quizzed over a series of ‘heat of the moment’ texts with Cooke in which the pair allegedly discussed getting rid of Weeks by having shareholders launch a class-action lawsuit against the government-appointed manager. Foster’s departure came after he told the official inquiry his company was currently unsuitable to operate a casino in New South Wales. Star’s gambling license was suspended and operations were placed under a new manager Nicholas Weeks. In response to the report Star stated that it was “concerned by a number of assertions within the media reports that it considers misleading.” And also stated that it would take steps to address the allegations with Australian authorities.
In August 2026, news media reported that a fine of $2.25 million was issued to Star Casino due to a 16 year old boy gambling and drinking alcohol. 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. 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. 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. 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. Following the report shareholders began forming a class action lawsuit against Star and inquiries were launched by Queensland’s, Western Australia’s, Victoria’s, and New South Wales’s state gaming regulators.
The embattled gaming giant this morning informed the ASX it had finalised the sale of its stake in the Destination Brisbane Consortium, which owns the complex. Why Kentucky Fried Chicken Became KFC—and Why the False Explanations Persist The Small Holding Sale Facility was conducted in accordance with The Star Entertainment Group’s Constitution and the australian pokies payid Securities Exchange Listing Rules that enables all listed companies to sell shareholdings valued at less than $500 (Unmarketable Parcel). Chow Tai Fook Enterprises is the flagship investment holding company for the Cheng family in Hong Kong. If fully delivered, it will include a further four hotel and apartment towers, exciting new restaurant and bar precincts; increased entertainment and retail options; and lush new resort facilities. China remains the largest and fastest growing market for international visitation to Australia. Click here to download the Tax CalculatorClick here to access information on the Australian Taxation Office website
I joined Proud (formerly known as Spectrum) in 2017 and officially assumed the Co-Lead role in November 2021. A local landmark for more than 30 years, The Star Sydney is an integral part of the Pyrmont and Darling Harbour community. The Star Gold Coast offers more than 1,000 hotel rooms, suites and apartments, and a wide array of hospitality experiences. If it cannot get the funds, it will be forced into administration. The company would need an immediate cash injection in order to remain solvent. The company has been unable to secure enough cash to offset it’s liquidity crisis. Bally’s Corporation emerged as a possible bidder for the company in February 2025.