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Investors will soon learn what the casino company has decided to do once it announces its plan in the next few days. It seems there is a lot of work operationally and financially to do for the company to continue operating. According to the Australian Financial Review, it is preparing to announce a $1.4 billion write-down of casino assets and a plan to significantly reduce costs after cashless card gaming and increased regulation. However, the Bell Report underscores the NICC's concerns that it was not receiving all of the facts from The Star at a time when we needed certainty the company could fund and prioritise an urgent business turnaround. On 7 April 2025, Star Entertainment and Bally’s reached an agreement where Bally's will acquire a controlling 56.7% stake in the company, effectively rescuing Star Entertainment from collapse. The $180 million deal will allow Star to keep all three of their properties and will allow Bally's to expand outside of the US for the first time in the company’s history.On 25 June 2025, shareholders approved the Bally’s takeover bid.
Tech company WiseTech Global's share price has slumped after fresh allegations were aired against billionaire founder Richard White in Nine Newpapers this morning. Despite today's boost, the Star Casino share price is still down a painful 76% from this time last year. Last Monday, 20 January, the Star Casino share price crashed 17.9% on the heels of the company's second-quarter update.
https://blackcoin.co/harvest-buffet-the-star-sydney/

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