Battling Star Entertainment loses the trust of its banks

Star Entertainment’s lenders warn the Sydney and Gold Coast casino owner could be in voluntary administration within months and its hotels split up and sold to the highest bidders, as a lifesaving deal to preserve its future as a listed company fails to materialise. .

Two sources close to Star’s secured debt providers, who spoke on condition of anonymity, said it was unlikely to find a white knight investor in its current form, which would mean it would run out of cash based on its financial track record. That would leave the board with no choice but to give up control of the company.

Charging…