Australian casino operator Star Entertainment Group receives takeover interest from Hard Rock Hotels & Casinos, aiming to rebrand and refocus.
Australian casino operator Star Entertainment Group has received interest from multiple parties, including a consortium led by US-based Hard Rock Hotels & Casinos, for potential take-control transactions. The proposal aims to inject new capital, rebrand the company, and separate Star's properties from its casinos to focus on entertainment, food, and hotels. This comes after Star faced a second inquiry into its Sydney casino operations, with its license suspended in October 2022 due to lax anti-money laundering controls.
May 19, 2024
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