In order to attempt to keep Star afloat, https://blackcoin.co/ the company attempted to sell its stake in The Star Brisbane. Chow Tai Fook and Far East Consortium would have assumed Star’s stake in The Star Brisbane and will also assume all debts incurred by the property. Chris Wallin was also planning to give Star Entertainment the $200 million loan which would have been intended to help keep the company solvent for the time being. On 7 March the company agreed to sell its stake in Queen’s Wharf for only $53m in installments, but the deal collapsed. In May 2024, it was reported that multiple suitors were looking to acquire Star Entertainment and their assets. Hard Rock International was said to be weighing a bid for the struggling company, but they subsequently stated that they were not looking into acquiring Star Entertainment. On 10 February 2025, ASIC is proceeding to sue the former board of the company in the High Court of Australia for failing to keep track of money laundering.
Coincidentally, another significant shareholder in E-Commerce is PAG – a major Asian investment company that is the largest shareholder in troubled Australian airline Rex. He does share the name with a businessman who is the majority shareholder in a Hong Kong-listed company, E-Commodities Holdings, which trades in commodities, including coal and oil. There is still no report this morning, and it looks increasingly unlikely the company is in any position to update the market today. Now the ASX has made that suspension involuntary as Star didn't manage to table its full-year financial report before the cut-off at the close of business on Friday. An opportunistic buyer may be enticed by Star’s beleaguered share price, which traded to a record low of 10.5c earlier this month before a modest recovery.