Star Entertainment on shaky ground as rumours of collapse mount

Star Casino is rumoured to be on the brink of collapse, with the gaming giant’s latest report showing its cash balance plummeted by almost half to $79m in the December 2024 quarter, citing “difficult trading conditions”, capital expenditure legal and consulting fees, and a $15m fine imposed by the NSW Independent Casino Commission. Read more.

It was also recently revealed that The Star will soon be facing an up to $70 million claim to be brought by Barry Wight and Jeremy Nipp of Cor Cordis in their capacity as liquidators of the i-Prosperity Group, one of Australia’s biggest Ponzi schemes, alleging that Michael Gu, the man behind the scheme (who is now a fugitive), laundered millions in stolen investor funds through the casinos. Read more.