Star Entertainment Group could be broke in a matter of weeks with the future of its casinos in Sydney, Brisbane and the Gold Coast – along with the thousands of jobs they provide – in doubt.
The gaming giant warned it has only $79 million [US$49 million] in its bank accounts and is struggling with a downturn in the number of gamblers at its venues along with more than $100 million in fines it was slapped with over license breaches.
Analyst Angus Hewitt from investment research firm Morningstar told clients in a note that without a lifeline ‘the company would be lucky to make it to February 28’.
