ATG ASX: Star chair Anne Wards faces shareholder revolt at Redbubble owner Articore

ASX 200 investors are bidding up the Star Casino share price after the embattled company announced a major divestment. The Star casino in Sydney is the company’s core asset and historically generated approximately most of group earnings as the city’s only Monte Casino portfolio diversification. However, Star’s exclusivity in Sydney has come to an end with a second Sydney poker casino UK license issued to Crown Resorts, opening in August 2022. This is a major AC8 best online blackjack blow to Star, Mindil Beach Microgaming ending its long-standing monopoly in Sydney. The fiscal 2024 collapse in earnings was considerably worse than estimated and development costs are set to be higher than anticipated.
It is suing several former directors and executives, including the former chief executive, in a case expected to last six weeks. Elizabeth Sheedy is on the advisory board of the Financial Integrity Hub and was previously on the board of the Australian Compliance Institute. In the past she has received research funding from financial institutions that have been accused of money-laundering, and from the Australian Compliance Institute. So first is the cyclical downturn in discretionary spending that’s weighing on main floor gaming. We do expect VIP gaming to come back to levels much, much lower than it was pre-COVID. But we do expect it to come back to some extent over the next few years.
The new casino will replace Treasury Lapilanders crypto casino scratch cards and Hotel, which will be repurposed into a hotel and retail site. The infrastructure investor delivered solid results, but investors appear focused on the outlook. Analysts at Ord Minnett still think Star will be able to prove itself suitable in NSW. However, it comes with a worrying caveat — the risk of the Sydney top Aussie casino privacy policy 2026 being forced to shut is rising.
It is also opened what is expected to be six-week season in the Federal Court. Well, that’s it for another day on the blog where the ASX was battered to a degree by fears of an escalation in the trade war after President Donald Trump said he would raise tariffs on aluminium and steel imports into the US. The ASX 200 fell 0.3 per cent following US President Donald Trump’s threats to raise tariffs on steel and aluminium imports. The gaming giant had called off negotiations on an earlier proposal after failing to agree on key details of a plan to sell its Brisbane project.
In the tariff space, steelmaker Bluescope is up 2.2% thanks to its big US manufacturing business, while US-based Alcoa’s depository notes are up 0.3%. At this stage, the first day of a six-week hearing, there is no likelihood of this session being turned into a blockbuster film. Bags of $50 notes tied with elastic bands, hiding from CCTV cameras, and cheques made out in cash are just some of the tactics the regulator alleges former directors and executives enabled. J.P. Morgan analyst Don Carducci said a key disappointment was the North American business where sales guidance was lowered from “good” to “solid”. “There are some reports that suggest that in Australia alone, there are more than 6 million assets that will be needing to transfer from Windows 10 to Windows 11 before the deadline of October. Every year, Greenbox processes millions of discarded computers and other e-waste from large companies, government departments and agencies.
With a $200 million emergency debt facility at a rate of 13.5%, it appears Star may be buying time ahead of a potentially value-dilutive equity raise in fiscal 2025. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show and premium investing services. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. The Star Entertainment Group Limited is an Australia-based company that provides gaming, entertainment and hospitality services. The Company operates The Star Sydney (Sydney) and The Star Gold Coast (Gold Coast). The Company’s segments include Sydney, Gold Coast, and The Star Brisbane.