The future of The Star Entertainment Group Ltd remains in limbo after it confirmed that its half-year financial report for the period ended December 31, 2024, was not lodged by the required deadline of Friday, February 28, 2025, under the ASX Listing Rules.
The company’s shares remain suspended from trading until the 1HFY25 Report is submitted and the ASX approves the reinstatement of the company’s shares to quotation.
Star is unlikely to lodge the report unless it secures a refinancing commitment to refinance all existing corporate debt and provide additional liquidity.
The company stated on Friday: "It is likely that the [half-yearly report] will only be able to be finalised if the company has received liquidity proposals which … are sufficiently capable of being progressed to finalisation in the context of determining whether the company can continue as a going concern.
"If [the half-yearly report] is not lodged later today as required by ASX listing rules, then the company shares will be automatically suspended from trading from Monday, March 3, 2025.
"There remains material uncertainty as to the [company's] ability to continue as a going concern."
The outlook for Star is grim, with 9,000 jobs on the line if the business folds.
Star is seeking a last-minute deal to fend off insolvency.