Huntley Mitchell 23 Jul 2021
The Star Entertainment Group has withdrawn its proposal to merge with Crown Resorts, citing “issues” raised at Victoria’s Royal Commission into Crown Melbourne as a major factor.
When the offer was
initially tabled by The Star in May, chairman John O’Neill claimed that bringing together the two rivals would create an estimated $12 billion ASX-listed national tourism and entertainment giant.
The Star also estimated that a merger with Crown would result in cost synergies of between $150 million and $200 million per annum.
However, The Star’s tune has changed dramatically since then, so much so that the company has now decided to pull its proposal.
ASX 200 edges higher, Crown falls, Pointsbet rises fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
Mike Yardley: Riverside treats in Brisbane
(Photo / Visit Brisbane) Sat, 10 Jul 2021, 1:07PM
Ditch the thermals and bask in the warmth of the Sunshine State this winter. My first stop on a recent swing through Queensland was Brisbane, lapping up the diversity of urban temptations in this most hospitable of cities. Snaking around the inner-city like a serpentine artery, Brisbane River sets the stage for the city’s photogenic credentials, inter-connecting so many distinctive pockets of goodness and underpinning Brisbane’s heart and soul. After taking my fill of South Bank’s cultural heft, I struck out on the stunning River Public Arts Trail, taking in the artworks on this 2.4km trail that meanders along the river at Kangaroo Point, starting from the Maritime Museum and ending down at the Thornton St Ferry Terminal. Amid the trove of works is a throwback to Expo ’88, the iconic sculpture, Man & Matter. Few suburbs can match Kangaroo Point for its skyline
Neville Bonner pedestrian bridge takes shape at South Bank miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
May 13, 2021
In Australia and The Star Entertainment Group Limited has reportedly followed rival casino operator Crown Resorts Limited in agreeing to stop the use of junket firms in order to attract high-value foreign players to its New South Wales property.
According to a report from Inside Asian Gaming, the move from the Brisbane-headquartered company comes a little over four months after Crown Resorts Limited was refused a gaming license for its new Crown Sydney development owing to concerns that it may have been complicit in a slew of money laundering offenses tied to its own utilization of such junkets. The source detailed that this licensing decision from the New South Wales Independent Liquor and Gaming Authority could be revisited before the end of the year so long as the operator has implemented a number of recommendations earlier laid out by an independent investigation chaired by former New South Wales Supreme Court Judge Patricia Bergin.