Australia’s The Star Entertainment Group may face voluntary administration within months, as lenders doubt the company’s ability to secure a lifeline investor, according to the Australian Financial Review.
With its market value plummeting from AU$4 billion ($2.6 billion) to under AU$500 million ($325 million), the casino operator has struggled with cash flow and regulatory challenges.
In a recent filing with the Australian Securities Exchange (ASX), the company informs that its available cash fell by AU$79 million ($49.16 million) from its last report at end-September 2024.
According to the AFR, the company has burned through AU$107 million ($69.5 million) in recent months, and lenders are considering a AU$100 million…
