This Month
Victoria’s casino regulator investigating Crown Resorts
The gaming group confirmed on Tuesday that it was looking into allegations its chief executive allowed customers removed by security to return to its premises.
- Zoe Samios
ASIC sued Star’s board a year ago. The case will be heard in 2025
ASIC’s case against Star’s board, launched 12 months ago, has come to a standstill because a judge is so busy he can’t hear it until February 2025.
- Michael Pelly
- Exclusive
- Crown Resorts
Crown launches internal investigation into CEO
The Blackstone-owned gaming group has launched an inquiry into allegations management intervened to allow patrons removed from its casinos back in.
- Kylar Loussikian
SkyCity pays Macquarie $188m to settle car-park fire stoush
The company, which is facing regulatory action over anti-money-laundering failures, agreed to sell the concession in Auckland to the investment giant in 2019.
- Zoe Samios
Executive departures deepen Star Entertainment’s legal woes
Betty Ivanoff, a former group counsel at Crown Resorts and Coca-Cola Amatil, resigns after about six months in the role.
- Zoe Samios
Regulator says Star has six months – or its Sydney casino could close
The Independent Casino Commission has warned it is still not satisfied with Star’s ability to run the Sydney casino without supervision, despite significant remediation programs.
- Zoe Samios
November
SkyCity wins battle over burnt car park value
SkyCity has won a case in the High Court of New Zealand over the value of a fire-damaged car park at its flagship Auckland casino.
- Zoe Samios
Investors dust off Crown, Star merger dreams amid job cuts
Job cuts and slashed hours have Star Entertainment bulls excited Crown owner Blackstone could turn to its cross-harbour rival to find cost synergies.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Aristocrat’s investors aren’t spooked by casino, bookie headwinds
The largest pokies manufacturer in the world is one of the few gaming stocks to have enjoyed an increase in share price during a difficult year for the sector.
- Zoe Samios
Star assures irate investors it has no intention of raising more money
The company has already secured $1.6 billion over the last seven months, almost the same as its market capitalisation, after major write-downs at its casinos.
- Zoe Samios
October
Crown’s multibillion-dollar expense bill wipes casino profits
The Blackstone-owned company improved revenue by 44 per cent, but it was not enough to offset the toll of penalties and sharpening compliance.
- Zoe Samios
SkyCity chief executive Michael Ahearne resigns
Julian Cook, chairman of SkyCity, said Mr Ahearne had led the business through a “complex and demanding period”.
- Zoe Samios
Bruce Mathieson back shopping for Star Entertainment shares
The billionaire was spotted buying a small parcel of shares on Friday, just over two weeks after refusing to tip into Star’s $750 million equity raising.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Activist shareholders
Pubs billionaire Mathieson says margin loan is no handbrake
Bruce Mathieson snr says opting out of the last Star capital raising was not influenced by a margin loan against his Endeavour stake, which has fallen in value.
- Zoe Samios, Carrie LaFrenz and Simon Evans
Star hopes to fetch $200m for Brisbane casino and hotel
Star Entertainment has put the Treasury Casino and Hotel on the market as it prepares to vacate these properties for Queen’s Wharf.
- Larry Schlesinger
September
Blackstone underestimated size of Crown Resorts challenge: chairman
Bill McBeath says Blackstone miscalculated the amount of work required to transform the casino giant’s culture and systems following years of scandal.
- James Thomson
Star receives lukewarm reception from insto investors in $565m raise
The raise – and a retail component worth $185 million – is part of a broader package of measures designed to shore up the embattled casino group.
- Updated
- Kylar Loussikian
- Opinion
- Chanticleer
Desperate Star’s kitchen sink equity raising is deja vu all over again
Robbie Cooke insists his fresh $750 million raising sets Star up for the future. But investors have heard it all before.
- James Thomson
Star Entertainment restructures debt, raises $750m at large discount
The casino operator’s chief executive, Robbie Cooke, says the new financing and a $450 million debt facility is a “key milestone” in the company’s renewal.
- Kylar Loussikian
SkyCity shares dive on New Zealand casino licence suspension threat
The temporary loss of its gaming licence at Auckland, Hamilton and Queenstown could deliver a major earnings hit to the ASX-listed wagering group.
- Zoe Samios
