"NSW government has a vested interest in the Star continuing as a going concern."
Perhaps it's more accurate to say, "NSW government has a vested interest in the operating venture currently known as Star continuing under new ownership."
They don't care about shareholders, only about ensuring a deep-pocketed operating concern paying fees and taxes and preserving jobs.
Let's face it, if Disney announced plans to enter the casino business, the minister for gaming and racing; David Harris would be immediately the phone to Bob Iger, getting him on a private jet and telling him they had a great deal on the table.
Ann: Pause in Trading, page-68
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