Shares in Star Entertainment have been suspended from trading on the stock exchange after it failed to lodge its financial results.
Exchange operator ASX automatically suspended shares in Star on Monday morning after the casino operator missed Friday’s deadline for issuing its earnings update for the first half of the financial year.
The future of Star Entertainment and its thousands of workers remains uncertain as the company’s efforts to secure a financial lifeline go down to the wire.
The company, which operates casinos in brisbane, the gold coast and sydney, confirmed on Monday morning that it would not be able to lodge its accounts until it secured a funding package.
Star said it required “a refinancing commitment that would enable The Star to refinance all the Group’s existing corporate debt, as well as to provide additional liquidity”, and said it would keep the market informed of “material developments”.
There was no reference to funding proposals it had received or expected to eventuate.
“There remains material uncertainty as to the Group’s ability to continue as a going concern,” Monday’s statement reiterated.
If funding isn’t secured, Star will face the prospect of entering voluntary administration, which would see…
