{"id":777015635,"date":"2024-05-20T09:05:44","date_gmt":"2024-05-20T12:05:44","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015635"},"modified":"2026-04-22T10:05:33","modified_gmt":"2026-04-22T13:05:33","slug":"the-star-denies-receiving-hard-rock-buyout-proposal","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/the-star-denies-receiving-hard-rock-buyout-proposal","title":{"rendered":"The Star denies receiving Hard Rock buyout proposal"},"content":{"rendered":"\n<p>But it has received preliminary non-binding interest from various parties.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.-  The casino operator <strong>The Star Entertainment Group<\/strong> has denied media speculation that it&#8217;s received\u00a0an acquisition proposal from Hard Rock but said it had received preliminary non-binding interest from\u00a0a number parties, including from a consortium that includes\u00a0Hard Rock Hotels &amp; Resorts (Pacific).<\/p>\n\n\n\n<p>The Star Entertainment Group said &#8220;the nature of the interest to date has been confidential, unsolicited, preliminary and non-binding.&#8221; It added that it remains focused on remediation activities in New South Wales and Queensland and\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/nicc-announces-second-inquiry-into-the-star-entertainment-group\" target=\"_blank\" rel=\"noreferrer noopener\">participating in the Bell Two Inquiry<\/a>. It said it will keep shareholders informed by its continuous disclosure obligations.<\/p>\n\n\n\n<p><a href=\"https:\/\/focusgn.com\/asia-pacific\/the-star-entertainment-group-posts-net-revenue-of-us271-5m-for-q3\" target=\"_blank\" rel=\"noreferrer noopener\">The Star Entertainment Group<\/a>\u00a0reported\u00a0<strong>net revenue of AU$419.2m (US$271.5m)\u00a0<\/strong>for the third quarter of the financial year.\u00a0Revenue was down 4.6 per cent year-on-year. Revenue was highest in January (AU$146.6m).<\/p>\n\n\n\n<p>The company reported that negotiations for the sale of the Treasury Casino, Hotel and car park were progressing. As regards the phased opening of&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/the-star-to-contest-legal-action-over-queens-wharf-brisbane-project\" rel=\"noreferrer noopener\">Queen\u2019s Wharf Brisbane<\/a>, the casino operator said it remains on track for August 2024 with the gaming floors on levels 5 and 6 handed over to the company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>But it has received preliminary non-binding interest from various parties.<\/p>\n","protected":false},"author":176,"featured_media":26456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Star Entertainment Group has refuted media reports of a direct acquisition proposal from Hard Rock, confirming instead preliminary, non-binding interest from a consortium including Hard Rock Hotels & Resorts (Pacific). The company remains focused on regulatory remediation activities and the Bell Two Inquiry, while progressing the sale of the Treasury Casino and the phased opening of Queen's Wharf Brisbane.","focusai_entities":"The Star Entertainment Group, Hard Rock, Hard Rock Hotels & Resorts (Pacific)","focusai_location":"Australia, New South Wales, Queensland, Brisbane","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"M&A Consortium Details?","query":"What specific entities, beyond Hard Rock Hotels & Resorts (Pacific), comprise the consortium expressing preliminary non-binding interest in The Star Entertainment Group?"},{"label":"Bell Two Inquiry Impact?","query":"How might the findings or ongoing requirements from the Bell Two Inquiry influence the terms or feasibility of any potential acquisition or strategic investment in The Star?"}],"footnotes":""},"categories":[16336,157,158],"tags":[24103],"class_list":["post-777015635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777015635"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015635\/revisions"}],"predecessor-version":[{"id":777015665,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015635\/revisions\/777015665"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26456"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}