Star Casino group's collapse could cost thousands of Aussie jobs
Star Entertainment might run out of money within six weeks Queensland and NSW governments will not bail the company out READ MORE: Famous tropical island battles it out over Native Title claim Star Entertainment Group could be broke in a matter of weeks with the future of its casinos in Sydney, Brisbane and the Gold Coast - along with the thousands of jobs they provide - in doubt. Herní Židle K PC Sracer R6 S Područkami Nosnost 130 Kg Černá-Šedá Superkancl.cz Herní Židle K PC Sracer R6 S Područkami Nosnost 130 Kg Černá-Šedá Ad The gaming giant warned it has only $79million in its bank accounts and is struggling with a downturn in the number of gamblers at its venues along with millions of dollars in fines it was slapped with by the corporate watchdog over license breaches. Analyst Angus Hewitt from investment research firm Morningstar told clients in a note that without a lifeline 'the company would be lucky to make it to February 28'. The group's new crown jewel - a casino in the massive $3.6billion Queen's Wharf project in Brisbane - had its grand opening just a few months ago and could see its doors swiftly close again in February, according to its largest stakeholder. Pub tycoon Bruce Mathieson sounded the alarm this week that Star Casino could 'go bankrupt or be bought' within weeks as the company continues to burn through its cash reserves. More than 3,000 staffers across the casino, hotel and retail areas help run the Brisbane precinct alone and all could go jobless if it were to close, sparking an assurance from Premier David Crisafulli that those affected would be looked after.
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