Star shares drop as Hard Rock dismisses takeover interest
Tuesday 21 de May 2024 / 12:00
2 minutos de lectura
(Australia).-Hard Rock International, the operator of the renowned Hard Rock Cafe hotels and restaurants, has denied any involvement in a takeover bid for the troubled Star Entertainment.
Hard Rock International, the chain that runs the storied Hard Rock Cafe hotels and restaurants, has denied any involvement in a takeover bid for embattled Star Entertainment opens a new tab , sending the Australian casino operator's shares down 10% on Tuesday.
Star on Monday said it had received interest from a group of investors including Hard Rock Hotels & Resorts (Pacific), lifting shares up 20%.
However, confusion around the identity of the group sent shares down on track to mark their worst day in over a month.
"We want to make it clear that Hard Rock International is not involved in, nor has it authorized, any discussions, activities or negotiations on its behalf in connection with a proposed bid for Star," the Florida-based chain said on Monday, adding that it had not "authorized the use of the Hard Rock brand in connection with any proposed bid for Star by any third party."
KCM Trade chief market analyst Tim Waterer said Hard Rock International's statement "has taken some wind out of the sails" of Star's stock as investors try to figure out who the possible suitors for Star are.
The Australian casino operator had earlier said opens a new tab that Hard Rock Hotels & Resorts (Pacific) was a local partner of Hard Rock Hotels and Casinos, but later said they had not heard directly from Hard Rock International.
The Australian Financial Review on Monday had reported that Hard Rock had made an offer to take control of Star and the proposal included injecting fresh capital into the cash-strapped company.
Categoría:Others
Tags: Sin tags
País: Australia
Región: Oceania
Event
ICE Barcelona 2026
19 de January 2026
Merkur Group Shines in Barcelona with Triple ICE Triumph
(Espelkamp/Barcelona).- Merkur Group secures three prestigious international accolades for operational excellence, social commitment, and standout exhibition experience.
Friday 06 Feb 2026 / 12:00
Eduardo Aching: "ICE 2026 was an exceptional event for Konami and its casino partners"
(Barcelona, SoloAzar Exclusive).- Eduardo Aching, Vice President of iGaming & International Gaming Operations at Konami Gaming, reflects on the company’s standout participation at ICE 2026, the strong reception to Solstice 49C and Konami Online Interactive, and the strategic push toward emerging regulated markets and expanded global partnerships.
Friday 06 Feb 2026 / 12:00
Belatra Games Strengthens LatAm Expansion and Innovation Strategy After ICE Barcelona 2026
(Barcelona, SoloAzar Exclusive).- Kateryna Goi, Chief Marketing Officer at Belatra Games, shares her assessment of the company’s participation in ICE Barcelona 2026, the quality of industry engagement at the event, and the strategic priorities shaping Belatra’s growth in 2026, with a strong focus on Latin America and narrative-driven innovation.
Friday 06 Feb 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.