At casinos, the odds are never in a punter’s favour.
Now one of Australia’s biggest casino operators is facing the prospect of losing it all, with a top analyst predicting Star Entertainment Group has a 50 per cent chance of going into administration.
That is odds of 1:1 — the same as flipping a coin playing two-up on Anzac Day.
“It could all unravel,” Morningstar analyst Angus Hewitt says.
“We think it is pretty unlikely Star is going to be able to trade itself out of this predicament.”
Leaders in the two states where Star runs casinos are now talking about contingency plans for workers, although the company’s issues are so publicly toxic that talk of help is carefully worded.
“We won’t be bailing them out,” NSW acting premier Penny Sharpe…
