Overview

• Star Entertainment is expected to run out of cash by Friday, with voluntary administration likely as early as Wednesday.
• The company has been suspended from trading on the ASX after failing to file its half-year financial results, breaching reporting obligations.
• CEO Steve McCann is pursuing last-minute refinancing options, including offers from private equity firms and U.S.-based Oaktree Capital.
• Experts believe Star is operating under 'safe harbour' insolvency provisions, allowing it to continue trading while seeking a financial solution.
• If administration proceeds, Star's assets, including its Brisbane and Sydney casinos, could be sold, but regulatory hurdles complicate potential deals.