Casino group Star ‘on its knees’ after cash burn
The December quarter is traditionally the best for the casino business, but Star continued to go backwards.
Star is continued to operate its Sydney casino even though its licence remains suspended.
Shares in embattled ASX listed casino operator Star Casino fell by 23% in morning trade today after the company informed the market it had burned through A$107m in cash in the December quarter and had only A$79m in cash available.
The market was responding to an update on cash and liquidity released
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