Over jou

Bruce Mathieson, who operates poker machine and pub empire Australian Liquor and Hospitality with Woolworths, holds about a 10 per cent share in Star and has been interested in buying the Gold Coast casino. "What we would want to see is the government work to make that process as quick as possible, while still ensuring that any new operator is compliant with the regulations and the legislation." He said the government would also need to move quickly to approve a new operator should there be a sale. She said if this eventuated the administrator would try to find a way to sell the company, or parts it that are unprofitable, and then see if it could continue in a smaller way to be successful. "It's going to be important for both government and the Star casino, or whoever ends up taking that over, for it to be an ongoing viable solution." United Workers Union welcomed the deal for the 9,000 employees across the group who could have been left high and dry if it collapsed.
This month, long-time investor Perpetual dumped most of its shares, sending the stock to a record low of 20c. In August, a second probe into the culture of Star Entertainment found the company unsuitable to hold a casino licence, slamming its previous management as "dysfunctional". McCann and Star chair Anne Ward laid out the many challenges the business is facing as it attempts to win the confidence of regulators – and regain suitability to hold its casino licences – while keeping the business afloat.

Profielinformatie