{"id":1201,"date":"2024-09-28T07:00:00","date_gmt":"2024-09-28T07:00:00","guid":{"rendered":"https:\/\/extraniceshirts.org\/?p=1201"},"modified":"2024-10-01T14:44:35","modified_gmt":"2024-10-01T14:44:35","slug":"star-entertainment-in-trouble-as-embattled-casino-companys-share-price-drops-44","status":"publish","type":"post","link":"https:\/\/extraniceshirts.org\/index.php\/2024\/09\/28\/star-entertainment-in-trouble-as-embattled-casino-companys-share-price-drops-44\/","title":{"rendered":"Star Entertainment in Trouble as Embattled Casino Company\u2019s Share Price Drops 44%"},"content":{"rendered":"<div style=\"margin-top: 0px;margin-bottom: 0px\" class=\"sharethis-inline-share-buttons\"><\/div>\n<p>Star Entertainment is in significant trouble, as its share price dropped 44% when trading resumed on the Australian Securities Exchange (ASX) Monday following a 25-day halt. The ASX <a href=\"https:\/\/www.vegasslotsonline.com\/news\/2024\/09\/02\/australian-securities-exchange-suspends-star-entertainment-shares-trading\/\">suspended trading of the Australian casino company<\/a> because Star missed the August 31 deadline to release its earnings for the most recent fiscal year. It finally reported its results on Thursday, which led to the removal of the halt.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>the Brisbane-based company posting a loss of AU$1.69bn (US$1.16bn)<\/p>\n<\/blockquote>\n<p>The figures weren\u2019t pretty, with the Brisbane-based company posting a loss of AU$1.69bn (US$1.16bn) for the year. To help with cash flow issues, Star recently secured AU$200m (US$138m) in loans to keep it going, albeit at a steep 13.5% interest rate. More loans may be necessary in the near future.<\/p>\n<p>A reason for the delay was the release of a report following a second government inquiry into Star\u2019s activities in New South Wales (NSW). <a href=\"https:\/\/www.vegasslotsonline.com\/news\/2024\/08\/30\/star-entertainment-unfit-to-get-back-sydney-casino-license-following-second-nsw-probe\/\">SC Adam Bell found Star to still be unfit to operate a Sydney casino<\/a> as it hasn\u2019t made sufficient progress toward the remediation efforts proposed by the first report in August 2022. It <a href=\"https:\/\/www.vegasslotsonline.com\/news\/2024\/09\/13\/star-entertainment-facing-another-au100m-fine-if-it-holds-onto-nsw-casino-license\/\">faces another AU$100m (U$69m) fine<\/a> and an uncertain future as a result.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.vegasslotsonline.com\/news\/2024\/09\/28\/star-entertainment-in-trouble-as-embattled-casino-companys-share-price-drops-44\/\">Star Entertainment in Trouble as Embattled Casino Company\u2019s Share Price Drops 44%<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.vegasslotsonline.com\/news\">Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Star Entertainment is in significant trouble, as its share price dropped 44% when trading resumed on the Australian Securities Exchange (ASX) Monday following&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[],"_links":{"self":[{"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/posts\/1201"}],"collection":[{"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/comments?post=1201"}],"version-history":[{"count":1,"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/posts\/1201\/revisions"}],"predecessor-version":[{"id":1202,"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/posts\/1201\/revisions\/1202"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/media\/1152"}],"wp:attachment":[{"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/media?parent=1201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/categories?post=1201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/extraniceshirts.org\/index.php\/wp-json\/wp\/v2\/tags?post=1201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}