Star Entertainment Faces Cash Crunch Amid Financial Struggles

Star Entertainment Group Limited (NZX: SGR), which operates casinos in Brisbane, Sydney, and the Gold Coast, has reported a significant drop in its cash reserves. The company's cash balance plummeted by 47% from AUD 149 million (NZD 165 million) in September to AUD 79 million in December. This decline, disclosed to the Australian Securities Exchange, has raised concerns about the financial health of the casino operator. Star's dwindling cash reserves highlight the challenges faced by Australasian casinos in a tough economic environment. At the time of writing, the company’s struggles reflect broader pressures on the gambling sector, questioning the long-held belief that "the house always wins."

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