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Crown reported a $199 million loss in the 2023 financial year.

Crown’s multibillion-dollar expense bill wipes casino profits

The Blackstone-owned company improved revenue by 44 per cent, but it was not enough to offset the toll of penalties and sharpening compliance.

  • Zoe Samios

This Month

The CEO of SkyCity, the owner of Adelaide’s casino, has resigned.

SkyCity chief executive Michael Ahearne resigns

Julian Cook, chairman of SkyCity, said Mr Ahearne had led the business through a “complex and demanding period”.

  • Zoe Samios
Pubs billionaire Bruce Mathieson.

Bruce Mathieson back shopping for Star Entertainment shares

The billionaire was spotted buying a small parcel of shares on Friday, just over two weeks after refusing to tip into Star’s $750 million equity raising.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Billionaire Bruce Mathieson is livid with what he says is the abysmal performance of the hotel, pokies and retail liquor group Endeavour. But he has another reason.

Pubs billionaire Mathieson says margin loan is no handbrake

Bruce Mathieson snr says opting out of the last Star capital raising was not influenced by a margin loan against his Endeavour stake, which has fallen in value.

  • Zoe Samios, Carrie LaFrenz and Simon Evans
The casino and hotel occupy two city blocks in Briksbane.

Star hopes to fetch $200m for Brisbane casino and hotel

Star Entertainment has put the Treasury Casino and Hotel on the market as it prepares to vacate these properties for Queen’s Wharf.

  • Larry Schlesinger


Crown CEO Ciaran Carruthers and chairman Bill McBeath at Crown’s Melbourne resort.

Blackstone underestimated size of Crown Resorts challenge: chairman

Bill McBeath says Blackstone miscalculated the amount of work required to transform the casino giant’s culture and systems following years of scandal. 

  • James Thomson
The price of Star Entertainment shares shed another 10 per cent after Monday’s dire outlook.

Star receives lukewarm reception from insto investors in $565m raise

The raise – and a retail component worth $185 million – is part of a broader package of measures designed to shore up the embattled casino group.

  • Updated
  • Kylar Loussikian
Star Entertainment Group boss Robbie Cooke has tapped investors for the second time in seven months.

Desperate Star’s kitchen sink equity raising is deja vu all over again

Robbie Cooke insists his fresh $750 million raising sets Star up for the future. But investors have heard it all before.

  • James Thomson
Star Entertainment shares have fallen almost 70 per cent in 12 months.

Star Entertainment restructures debt, raises $750m at large discount

The casino operator’s chief executive, Robbie Cooke, says the new financing and a $450 million debt facility is a “key milestone” in the company’s renewal.

  • Kylar Loussikian
SkyCity could temporarily lose its casino licence in NZ.

SkyCity shares dive on New Zealand casino licence suspension threat

The temporary loss of its gaming licence at Auckland, Hamilton and Queenstown could deliver a major earnings hit to the ASX-listed wagering group.

  • Zoe Samios


Star Entertainment Group boss Robbie Cooke took the casino group’s reins in October last year. He’s had to scramble like mad since.

The $1.1b reason Star’s problems aren’t over

Star Entertainment has been pulled apart and CEO Robbie Cooke is trying to put it back together. It will only be possible if it can get a debt deal done quickly.

  • Updated
  • Anthony Macdonald
Star Entertainment boss Robbie Cooke.

Sydney casino sale off the cards as Star reports $2.4b loss

Revoked casino licences, AUSTRAC proceedings and four class actions have led to a $2.2 billion non-cash impairment to Star’s NSW and Queensland casinos.

  • Updated
  • Zoe Samios

Crown axes 5pc of Sydney workforce as it shuts one gaming floor

The Blackstone-owned casino giant will axe almost 100 jobs in its Sydney casino after weak economic conditions made one of the two VIP gaming floors unviable.

  • Zoe Samios
Stretching it out further? Progress on the Queens Wharf Resort and casino in Brisbane, already delayed until April, is at risk of further delay from a legal fight between builder Multiplex and its Destination Brisbane Consortium client.

Queens Wharf consortium stops paying Multiplex bills

The Destination Brisbane Consortium claims delay payments of $123 million against the builder and is offsetting those against progress claim payments.

  • Michael Bleby
Going up: Multiplex, the builder of Brisbane’s $3.6 billion Queens Wharf integrated resort project, is making claims worth up to $420 million against its client, the Destination Brisbane Consortium.

Multiplex sues Star for $420 million over Queen’s Wharf delays

The builder’s statement of claim also details a dispute over the day of mourning for Queen Elizabeth’s death, saying the client was “not reasonable”.

  • Michael Bleby

SkyCity puts aside $45m for potential AUSTRAC penalty

SkyCity told investors estimating potential exposure to penalties was “challenging”.

  • Zoe Samios

Star shares surge after casino lands favourable NSW pokies tax deal

The company’s shares had been falling amid investor concerns about a tax increase and broader worries about penalties to be levied for breaches of money-laundering laws.

  • Updated
  • Samantha Hutchinson


Firefighters batter flames at SkyCity’s NZICC complex in October 2019.

What’s a burnt carpark worth? Depends if you ask KPMG or Deloitte

The price of SkyCity’s New Zealand carpark, which was damaged in a 2019 fire, is disputed to the tune of $NZ50 million.

  • Zoe Samios
New Star Entertainment CEO Robbie Cooke.

Star refi off to the races; credit funds return term sheets

Advisers are expected to furnish the data room with more intelligence than that later this week, sources said.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Victorian Premier Daniel Andrews has announced a series of reforms for the state’s 30,000 poker machines.

Crown set to be a winner from Victorian pokies clampdown

The Southbank casino will be exempt from new rules forcing the closure of gaming machines between 4am and 10am, announced by the government on Sunday.

  • Gus McCubbing