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A Queensland inquiry found The Star actively encouraged people banned from gaming in Victoria and NSW to gamble at its casinos in the Sunshine State. The group has been on the brink of collapse for months but staved off administrators by offloading its 50 per cent stake in a new Brisbane precinct and a $250 million short-term bridging loan. Bally’s, which operate’s 19 casinos across the US, will get a 56.7 per cent stake in Star. Star Entertainment has narrowly dodged financial collapse with thousands of jobs saved after a US casino giant swooped in to rescue the flailing business. They would require punters to set a limit on deposits or bets, or indeed the time they spend gambling, and enforce these technically. If Australian casinos are struggling, it’s not because punters are giving up gambling. Whereas most of the gambling market recovered rapidly after the end of pandemic restrictions, casinos floundered.
Both Star and Australia’s other major casino operator, Crown, have emerged from a range of high-profile scandals in recent years. Whatever happens to it and its casino assets, there are bigger questions about whether the age of unfettered gambling revenue for casinos may have already ended. Those inquiries found that The Star failed to protect its casinos from being used by criminal syndicates to launder money. The Star’s casinos, which along with Brisbane include The Star Gold Coast and The Star Sydney in New South Wales, were also accused of welcoming and encouraging gamblers banned in other states to gamble. Chow Tai Fook is largely the reason for The Star’s troubles in the first place, as the Hong Kong firm’s ties to Triad groups are what prompted Star suitability concerns across the country. The buyers of The Star Brisbane, Hong Kong-based firms Chow Tai Fook and Far East Consortium, will additionally assume A$430 million in debt owed to lenders that helped finance the resort located on the banks of the Brisbane River. Located on Level 1 in the casino, Rick Lily is the ultimate live music venue that boasts a to-the-ceiling stock of the world's most sought-after tequilas.