Tag #Casino

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smh.com.au

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Jul 30, 07:15

Star Entertainment Faces Collapse of Queen's Wharf Sale, Reports Quarterly Loss

Star Entertainment reported a $27 million pre-tax loss for the June quarter, largely due to reduced revenue from mandatory carded play and faces potential collapse of a $53 million Queen's Wharf sale deal by the July 31 deadline, triggering a $36 million repayment.

Star Entertainment Faces Collapse of Queen's Wharf Sale, Reports Quarterly Loss

Star Entertainment reported a $27 million pre-tax loss for the June quarter, largely due to reduced revenue from mandatory carded play and faces potential collapse of a $53 million Queen's Wharf sale deal by the July 31 deadline, triggering a $36 million repayment.

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How have recent regulatory changes, such as mandatory carded play, impacted Star Entertainment's financial performance?

The potential failure of the Queen's Wharf sale jeopardizes Star's financial stability, as the deal provided crucial funds and relieved the company of financial obligations. The ongoing impact of mandatory carded play and potential multimillion-dollar fines further exacerbate Star's financial challenges, highlighting the company's vulnerability. Recent asset sales and equity injections have improved cash reserves to $234 million, but this might be insufficient to cover all liabilities.

cbsnews.com

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Jul 29, 04:12

Three Killed, Three Injured in Reno Casino Shooting

A gunman killed three people and injured three others at the Grand Sierra Resort casino in Reno, Nevada, on Monday morning, after his weapon malfunctioned. The suspect, who remains hospitalized in critical condition, engaged in gunfire with police; Sparks police are leading the investigation.

Three Killed, Three Injured in Reno Casino Shooting

A gunman killed three people and injured three others at the Grand Sierra Resort casino in Reno, Nevada, on Monday morning, after his weapon malfunctioned. The suspect, who remains hospitalized in critical condition, engaged in gunfire with police; Sparks police are leading the investigation.

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What was the immediate impact of the shooting at the Grand Sierra Resort casino in Reno, Nevada?

At least three people died and three others were injured in a shooting at the Grand Sierra Resort casino in Reno, Nevada on Monday. The suspect, who has not been identified, shot multiple victims after his gun malfunctioned, and is currently hospitalized in critical condition. One officer suffered minor injuries from glass fragments, and at least one patrol car was hit by bullets.",

foxnews.com

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Jun 12, 16:11

Bally's Chicago Casino Drops Discriminatory Investment Policy Following Lawsuit

Bally's Chicago casino settled a lawsuit after two white male investors claimed its policy of reserving 25% of its $250 million IPO for minority and women investors violated the Civil Rights Act of 1866; the casino subsequently dropped the requirement, opening investment to all.

Bally's Chicago Casino Drops Discriminatory Investment Policy Following Lawsuit

Bally's Chicago casino settled a lawsuit after two white male investors claimed its policy of reserving 25% of its $250 million IPO for minority and women investors violated the Civil Rights Act of 1866; the casino subsequently dropped the requirement, opening investment to all.

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What was the immediate impact of the lawsuit against Bally's Chicago casino's investment policy?

Bally's Chicago casino dropped a requirement that 25% of its investors be minorities or women, following a lawsuit by two white male investors who claimed the policy violated the Civil Rights Act of 1866. The lawsuit, filed by the Wisconsin Institute for Law and Liberty, resulted in a settlement where Bally's removed the discriminatory clause from its IPO. This decision opens the $250 million IPO to all investors.

smh.com.au

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Jun 5, 10:14

Star Entertainment Faces \$400 Million Fine, Threatening Bankruptcy

Star Entertainment faces a potential \$400 million fine from AUSTRAC for money laundering violations, threatening its financial stability and recently secured rescue package; the fine's size is based on a precedent with Crown Resorts.

Star Entertainment Faces \$400 Million Fine, Threatening Bankruptcy

Star Entertainment faces a potential \$400 million fine from AUSTRAC for money laundering violations, threatening its financial stability and recently secured rescue package; the fine's size is based on a precedent with Crown Resorts.

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What are the immediate consequences if Star Entertainment is fined \$400 million for money laundering violations?

Star Entertainment, facing a potential \$400 million fine from AUSTRAC for money laundering, claims this would lead to bankruptcy. This is significant because the company recently secured a \$300 million rescue package, of which only \$100 million has been received.

smh.com.au

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Apr 2, 04:14

Star Entertainment Faces Collapse After Funding Lifeline Fails

Star Entertainment failed to secure a crucial $940 million funding lifeline from Salter Brothers, jeopardizing its survival and prompting a search for alternative financing, while facing significant financial challenges and potential penalties exceeding $300 million.

Star Entertainment Faces Collapse After Funding Lifeline Fails

Star Entertainment failed to secure a crucial $940 million funding lifeline from Salter Brothers, jeopardizing its survival and prompting a search for alternative financing, while facing significant financial challenges and potential penalties exceeding $300 million.

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What are the immediate consequences of Star Entertainment's failure to secure the $940 million funding lifeline?

Star Entertainment's $940 million funding lifeline from Salter Brothers collapsed, jeopardizing its survival. The company is now seeking alternative funding, including from Bally's Corporation, but faces material uncertainty about its future. This failure highlights Star's precarious financial position and the challenges it faces in securing necessary financing.

smh.com.au

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Feb 28, 10:09

Star Entertainment Faces Imminent Bankruptcy

Star Entertainment Group, Australia's largest casino operator, is teetering on the brink of bankruptcy, facing a Friday deadline to secure a liquidity proposal to avoid insolvency, potentially impacting 8000 jobs and major tourism revenue in NSW and Queensland.

Star Entertainment Faces Imminent Bankruptcy

Star Entertainment Group, Australia's largest casino operator, is teetering on the brink of bankruptcy, facing a Friday deadline to secure a liquidity proposal to avoid insolvency, potentially impacting 8000 jobs and major tourism revenue in NSW and Queensland.

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What are the immediate economic and employment consequences if Star Entertainment declares bankruptcy?

Star Entertainment, Australia's major casino operator, faces potential bankruptcy, jeopardizing 8000 jobs and significant tourism revenue. The company is seeking a last-minute liquidity proposal to avoid insolvency, with a Friday deadline unmet.

npr.org

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Jul 29, 10:15

Reno Casino Shooting Leaves Three Dead, Six Wounded

On Monday, a gunman opened fire outside Reno's Grand Sierra Resort, killing three and wounding six others before police apprehended him; the motive remains unclear.

Reno Casino Shooting Leaves Three Dead, Six Wounded

On Monday, a gunman opened fire outside Reno's Grand Sierra Resort, killing three and wounding six others before police apprehended him; the motive remains unclear.

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What factors might have contributed to the shooting incident?

The shooting occurred in the valet parking area around 7:30 a.m., escalating after an initial gun malfunction. The suspect fired upon a security guard and a passing motorist before police engagement. The incident highlights security vulnerabilities in high-traffic areas of large casinos.

smh.com.au

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Jul 7, 10:12

Star Entertainment's Queen's Wharf Deal in Jeopardy

Star Entertainment faces a potential $37 million penalty if its deal to sell its stake in Brisbane's Queen's Wharf precinct to Hong Kong investors fails by July 31; negotiations continue, with a key sticking point being Star's casino operation.

Star Entertainment's Queen's Wharf Deal in Jeopardy

Star Entertainment faces a potential $37 million penalty if its deal to sell its stake in Brisbane's Queen's Wharf precinct to Hong Kong investors fails by July 31; negotiations continue, with a key sticking point being Star's casino operation.

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What are the immediate financial implications for Star Entertainment if the Queen's Wharf deal fails?

Star Entertainment's deal to sell its stake in Brisbane's Queen's Wharf precinct to Hong Kong investors is at risk. If the sale fails by July 31, Star will pay nearly $37 million in penalties. This follows weeks of negotiations, with a key sticking point being Star's continued casino operation within the precinct.

theguardian.com

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Jun 6, 19:11

Casino"'s 30th Anniversary Sparks Conversation on Power, Greed, and Modern Relevance

The Tribeca Film Festival celebrated the 30th anniversary of Martin Scorsese's "Casino" with a special screening, prompting discussions about the film's enduring relevance in light of current political and social climates.

Casino"'s 30th Anniversary Sparks Conversation on Power, Greed, and Modern Relevance

The Tribeca Film Festival celebrated the 30th anniversary of Martin Scorsese's "Casino" with a special screening, prompting discussions about the film's enduring relevance in light of current political and social climates.

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What are the key parallels between the themes explored in "Casino" and current events, particularly in the American political landscape?

Casino", Martin Scorsese's 1995 film, was re-screened at the Tribeca Film Festival for its 30th anniversary. The film's themes of power, greed, and ego resonate strongly with current events, prompting discussions about parallels between fictional mob bosses and modern figures.

forbes.com

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Apr 15, 16:11

Las Vegas Sands (LVS) Q1 2025 Earnings Preview: Lower Projections, Historical Performance Suggests Potential for Positive Stock Reaction

Las Vegas Sands (LVS) is expected to announce lower Q1 2025 earnings ($0.57 per share) and revenue ($2.93 billion) on April 16, 2025, compared to the prior year, despite historically gaining on 60% of post-earnings days; however, macroeconomic pressures and tariffs are contributing factors.

Las Vegas Sands (LVS) Q1 2025 Earnings Preview: Lower Projections, Historical Performance Suggests Potential for Positive Stock Reaction

Las Vegas Sands (LVS) is expected to announce lower Q1 2025 earnings ($0.57 per share) and revenue ($2.93 billion) on April 16, 2025, compared to the prior year, despite historically gaining on 60% of post-earnings days; however, macroeconomic pressures and tariffs are contributing factors.

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How do macroeconomic factors and tariff concerns contribute to the anticipated decline in Las Vegas Sands' Q1 2025 financial results?

The projected decline in LVS's Q1 2025 earnings and revenue is attributed to ongoing macroeconomic pressures and tariff concerns. Historically, LVS stock has shown resilience following earnings announcements, with a 60% probability of a positive one-day return over the past five years, increasing to 75% over the last three years. This suggests that despite the anticipated lower figures, market reaction may still be positive.

smh.com.au

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Mar 9, 22:10

Star Entertainment Averts Collapse, but Future Hinges on $940 Million Refinancing

Star Entertainment narrowly avoided collapse after selling its Brisbane casino stake for $35 million, securing a short-term loan, but its future depends on a $940 million refinancing proposal, which is not guaranteed.

Star Entertainment Averts Collapse, but Future Hinges on $940 Million Refinancing

Star Entertainment narrowly avoided collapse after selling its Brisbane casino stake for $35 million, securing a short-term loan, but its future depends on a $940 million refinancing proposal, which is not guaranteed.

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What immediate actions did Star Entertainment take to address its financial crisis, and what are the short-term implications?

Star Entertainment avoided collapse by selling its 50% stake in Brisbane's Queen's Wharf casino for $35 million, securing a short-term bridging loan of $250 million. This deal, however, is contingent upon securing a further $940 million in long-term financing to ensure its viability.

forbes.com

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Feb 28, 13:11

Genting Bhd CEO Steps Down Amidst Financial Challenges and Restructuring

Malaysian billionaire Lim Kok Thay is stepping down as CEO of Genting Bhd, handing over to Tan Kong Han, amidst an 11% drop in full-year net profit to $448 million and a 12% slump in shares to a four-year low, while the company invests heavily in energy and resort revamps.

Genting Bhd CEO Steps Down Amidst Financial Challenges and Restructuring

Malaysian billionaire Lim Kok Thay is stepping down as CEO of Genting Bhd, handing over to Tan Kong Han, amidst an 11% drop in full-year net profit to $448 million and a 12% slump in shares to a four-year low, while the company invests heavily in energy and resort revamps.

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What are the immediate consequences of Lim Kok Thay's resignation as CEO of Genting Bhd?

Lim Kok Thay is stepping down as CEO of Genting Bhd after 18 years, handing over to Tan Kong Han. Genting reported an 11% drop in full-year net profit to $448 million, with a fourth-quarter net loss of $34.6 million. Shares slumped 12%, closing at their lowest in four years.

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