Monopoly Moves: Which Assets Will Star Cash In to Ease Liquidity Pressures?

Star Entertainment Group is currently grappling with significant financial challenges, leading the company to consider asset sales as a strategy to address liquidity concerns. While specific assets slated for sale have not been officially confirmed, reports indicate that Star has been exploring the divestment of several properties:

• Treasury Hotel and Car Park in Brisbane: Efforts to sell these assets have faced setbacks. Deals to offload the Treasury Hotel building and the adjacent underground car park in Brisbane's CBD failed to materialize before Christmas.

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• The Darling Hotels in Sydney and Gold Coast: Star's CEO, Steve McCann, has indicated that the company is considering the sale of luxury assets, including The Darling hotels, as part of its strategy to improve liquidity.

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• Event Centre and Car Parks in Sydney: Additional assets under consideration for sale include the event center and car parks associated with their Sydney operations.

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These potential asset sales are part of Star's broader strategy to manage its financial difficulties, which include declining revenues, increased regulatory fines, and rising operational costs. The company is also seeking external advice and exploring various solutions to enhance its liquidity position.

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It's important to note that while these asset sales are under consideration, no definitive agreements have been announced, and the company's financial situation continues to evolve.