Troubled Australian casino operator Star Entertainment says it is trying to sell its stake in a major resort to raise desperately needed cash
Australian casino operator Star Entertainment said Friday it has reached an agreement to sell its stake in a major resort in return for 더블유비씨247 a cash lifeline to stay afloat.
Shares in the group, which employs more than 8,000 people, have been suspended from trading since March 3 after it failed to post half-year financial results citing liquidity woes.
Star's business -- including casinos, bars, restaurants and hotels at resorts in Sydney, Brisbane and the Gold Coast -- has been hovering close to entering administration.
The firm said Friday evening it h...
Troubled Australian casino operator Star Entertainment says it is trying to sell its stake in a major resort to raise desperately needed cash
Australian casino operator Star Entertainment said Friday it has reached an agreement to sell its stake in a major resort in return for 더블유비씨247 a cash lifeline to stay afloat.
Shares in the group, which employs more than 8,000 people, have been suspended from trading since March 3 after it failed to post half-year financial results citing liquidity woes.
Star's business -- including casinos, bars, restaurants and hotels at resorts in Sydney, Brisbane and the Gold Coast -- has been hovering close to entering administration.
The firm said Friday evening it had reached a binding heads of agreement with two Hong Kong-based joint venture partners -- Chow Tai Fook and Far East Consortium -- to get much-needed liquidity.
