What does the new deadline for Star’s embattled Brisbane casino mean?

As part of the Demerger, Tabcorp sought a ruling from the Australian Taxation Office on the taxation implications for shareholders. Eligible shareholders who wished to retain their Unmarketable Parcel were required to return a Share Retention Form to the share registry by the Closing Date. The Star Sydney’s casino is open 24/7, complemented by late-night bars and candy96.fun entertainment. The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion.
The Star stands as one of Australia’s most recognized casino resorts, offering a premier blend of gaming, entertainment, dining, and luxury accommodation on the shores of Darling Harbour, Sydney. It is Australia’s second-largest casino, offering a vast array of gaming options, including poker, blackjack, and roulette, along with electronic gaming machines. A Tax Calculator is provided below to assist shareholders in calculating the Australian capital gains tax cost base allocation for Tabcorp shares and The Star Entertainment Group shares. Eligible shareholders who wished to sell their shares under the Voluntary Share Sale Facility were required to return a Sale Instruction Form by the Closing Date.
Now one of Australia’s biggest casino operators is facing the prospect of losing it all, with a top analyst predicting Star Entertainment Group has a 50 per cent chance of going into administration. At casinos, the odds are never in a punter’s favour. Star is one of Australia’s biggest casino operators. Payment must be made either by cash, by debit or credit card. It’s got 11 treatment rooms, two exclusive couples suites, a Moroccan Hammam chamber, steam room and jacuzzi – sure to leave you feeling like a star. A 2022 NSW inquiry found damning evidence of money laundering and counter-terrorism failings at the groups’ Sydney casino while a 2024 probe found more breaches.
The casino features two gaming floors — the main gaming floor on level one for general entry and the Sovereign Room on level three. On 29 January 2025, as part of possible sales of non-core assets of the cash-strapped owner The Star, The Star announced it would sell the Event Centre Complex and unspecified spaces within the Complex to Foundation Theatres in order to raise $60 million. Its gaming operations are overseen and controlled by the New South Wales Casino Control Authority and is licensed to be the only legal casino in New South Wales. Overlooking Darling Harbour, The Star, owned by Star Entertainment Group features two gaming floors, one bar, 3 restaurants, 351 hotel rooms and 130 serviced and privately owned apartments.
Any closure would also severely affect neighbouring businesses, including cafes and hairdressers that rely heavily on those drawn to, and staying at, the gaming precinct. The majority of Star’s employees are based in Sydney, and despite recent troubles, its Pyrmont site remains a major tourism destination, with 650 hotel rooms and 36 food and beverage venues. But in a sign of its deepening financial woes, Star has reiterated there is material uncertainty about its ability to continue operating. In simple terms, Bally’s is hinting it wants to step in, bring the two casino operations (Queen’s Wharf and The Star Gold Coast) under one roof, and possibly take over in future. The US company gained a 38 per cent stake in Star last week through a $300 million investment and is pushing for a more unified strategy across the group’s Queensland assets.
Whether you’re drawn to the strategy of poker, the luck-based thrill of slot machines, or the social aspect of bingo, The Star Casino has something to offer. Each gaming option at Star Casino Sydney is designed to cater to various interests and skill levels, ensuring that all visitors have a memorable and enjoyable experience. These rooms provide a secluded environment for high-stakes gaming with personalized service. The casino offers traditional baccarat along with popular variations that can include side bets or slightly altered rules to add an extra layer of excitement to the game.
But as technology has changed, so too has the way we’ve chosen to lose our hard-earned cash. Casino operator Star Entertainment is mulling a bid from US gaming giant Bally’s, that would give it at least $250 million in funding, in exchange for a controlling stake in the group. Believe it or not, poker players also call this a zero equity bluff which, given the hand McCann has been dealt, seems entirely fitting. It’s where the player, holding what normally would be considered a losing hand, raises the stakes, hoping the other side will fold.
Meanwhile, in New South Wales where Star operates its more financially viable flagship in Sydney, its acting premier also says the state government is focused on the company’s local workers. The worse-than-expected cash burn saw Star’s share drop further to a new low of about 10 cents last week. Last week, the financial picture got even worse, when Star put out a market update indicating that its cash reserves had sunk further to just $79 million at the end of 2024.