Queensland leaves door open for Star Entertainment | Australian Markets

The Queensland Premier has indicated Star Leisure promoting property is a means ahead for the on line casino operator that’s going through collapse.

On Tuesday, David Crisafulli was at pains to say he wouldn’t touch upon Star Leisure’s financial viability.

However he did go away the door open for tax aid negotiations, whereas suggesting one other operator’s identify could nicely change Star.

“I would suggest to you there’s not a lot of workers who care what the name of the company is. They just want a job and we have exactly the same attitude,” Mr Crisafulli mentioned.

“If the operation can remain open, if whoever owns it is able to then invest in the developments that were promised, and were always part of the deal, that will create more jobs.”

The roles of 9000 Star Leisure workers in NSW and Queensland are within the lurch because the company calls on the state governments for a pause on playing taxes.

On Monday, Star Leisure Group informed the ASX there was “no certainty” it might improve its financial place with out help.

Steadily falling money reserves go away little within the tank past late February.

NSW Premier Chris Minns has ruled out a lifeline.

“We’ve got funding requests right across NSW, from roads to psychiatrists to nurses to the railways. I mean, I don’t have money for casinos, I’m sorry,” Mr Minns mentioned just lately.

Nonetheless, the Queensland authorities is conserving the door open to negotiations, which might have an effect on 6000 employees on the newly opened Brisbane on line casino and the Gold Coast operation.

“Star’s operations is not the focus of the Queensland government,” Mr Crisafulli mentioned on Tuesday, earlier than treading a advantageous line between free market beliefs and the welfare of Queenslanders.

“I’m not on their board. I have no interest in whether or not they are a viable entity. Whether they are or not. My concern is the people who work for them.

“And whoever they work for today or tomorrow, whether it’s the same company or a different one, whether an administrator is there or not, I just want that place to be opened and I want as many people as possible to have a job.”

Whereas Mr Crisafulli prevented making feedback on the liquidity of Star Leisure, the company itself despatched a grim announcement to the native share market on Monday.

In a assertion, Star Leisure mentioned “in the absence of one or more of these (liquidity) arrangements, there remains material uncertainty as to the Group’s ability to continue as a going concern”.

“Given the reduction in the Group’s available cash as at 31 December 2024 and the Group’s ongoing financial and liquidity challenges, the Company and its directors continue to seek external advice in respect of their duties, including the applicability of, and the ongoing reliance on, the safe harbour provisions under the Corporations Act,” the assertion reads.

“While discussions continue with respect to a range of different solutions, there is no certainty that any of these negotiations will result in one or more definitive arrangements that might materially increase the Group’s liquidity position.”