Salter Brothers pull out of their bid to buy Star Entertainment | The Courier Mail
Star Entertainment has reported a $302m loss in the first half of the financial year, which is a bigger than expected downfall.
The company told the ASX the net loss was from July 1 to December 31 of last year.
They recorded a $9m loss in the same period of the previous financial year.
Star Entertainment has agreed to a $60m divestment of its Sydney event centre, as the casino looks to quickly raise cash to stave off collapse.
In the casino operator’s latest move, it has completed its divestment of the The Star Event Centre and other additional spaces within The Star Sydney complex to Foundation Theatres.
I will have a beer to celebrate its future bankruptcy and liquidation.
The site first gained notoriety during the US election, when its founder’s apartment was raided by the FBI.
Now it’s pivoted to Australia, offering odds on who’ll be PM, who’ll win Brisbane, and whether Peter Dutton will hang on to his seat.