Star Entertainment Faces Imminent Administration as Cash Runs Out
The Australian casino operator is struggling to secure refinancing and may appoint administrators within days, raising uncertainty for its assets and 8,000 employees.
- 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.
Australian Broadcasting Corporation 
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