The buzzards are circling, and the coyotes are licking their chops because the pulse is getting weaker by the minute at Star Entertainment.
Where six months ago, the casino operator looked like a company struggling with regulatory issues and profit problems; today, it’s running out of cash to keep the lights on and is buried under debt. This is generally the final stage of the corporate palliative process, and in Star’s case, the end may be just around the corner.
So, while we play the waiting game, maybe it’s time to consider putting Star out of its misery. Because it just doesn’t have many options on the table.
Once the company’s flagship asset, Star’s Sydney casino is now worth little more than its hotel rooms as the Minns…
