SGR ASX: Star Entertainments mystery Macau backer hikes stake for second time in a week

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With a $200 million emergency debt facility at a rate of 13.5%, it appears Star may be buying time ahead of a potentially value-dilutive equity raise in fiscal 2025. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show and premium casino slots investing services. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. The Star Entertainment Group Limited is an Australia-based company that provides gaming, entertainment and Aus96 holiday offers hospitality services. The Company operates The Star Sydney (Sydney) and The Star Gold Coast (Gold Coast). The Company’s segments include Sydney, Gold Coast, and The Star Brisbane.

The BlackCoin crypto casino regulations operator has been negotiating with its lenders over changes to covenants on borrowings of more than $400 million. Put simply, the casino giant isn't in the best financial shape right now. They have since been volatile in Monday's session, but are currently sitting at 12.7 cents, up 15.45% for the day so far. Of course today's gains pale in comparison to the stock's significant losses over the longer term. Here's why brokers believe that now could be the time to snap up these shares. Macquarie expects very different market reactions following the upcoming AGMs for these ASX All Ords stocks.

Dr Higgins then told the court Star had commissioned a report by a security firm about the risk junket operators posed to Star and alleges the board should have been given the report. Looking ahead, Wall Street looks like dusting itself off after Friday's sell off with futures markets pointing to a 0.3% rise on the S&P 500 tonight. Slightly off Broadway, a number of companies got in on the act to mixed reviews from investors.

Discussions between Star and the State continue to develop, with the hope that tax increases will not be as damaging as projected by investment analysts. Star's recent financial results were delayed by liquidity concerns and the company's shares were suspended from the ASX. The company subsequently secured fresh funding, published its numbers and returned to trading in volatile style. Last Monday, 20 January, the Star Ripper Casino mobile slot games share price crashed 17.9% on the heels of the company's second-quarter update. The price tag for the assets is around $60 million, money sorely needed to keep the cash-strapped company afloat. Management noted that the transaction remains subject to a number of customary conditions, including relevant government and regulatory consent, as well as the finalisation of long-form transaction documents.