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Star Entertainment nears collapse as cash to last until end of week, ABC reports

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Australia's Star Entertainment could fall into administration as early as Wednesday and has hardly enough cash to last until the end of the week, the Australian Broadcasting Corporation reported.
The Star Entertainment Group, an Australian casino operator, is reportedly on the brink of collapse with its cash reserves expected to last only until the end of the week, according to ABC News. The company has been struggling with regulatory issues, including a second inquiry into its Sydney casino operations, which has led to a significant drop in its share value. The situation has been exacerbated by the need to repay $800 million in bonds due in July, and the company has been in discussions with the New South Wales state government to potentially extend its casino license. Amid these financial and operational challenges, Star Entertainment has also been dealing with the fallout from a money laundering scandal, which has further strained its resources and reputation.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/star-entertainment-nears-collapse-cash-last-until-end-week-abc-reports-2025-03-04/ ]