Star Entertainment Group, a casino operator in Australia, is facing a severe financial crisis with dwindling cash reserves and a warning of potential collapse. The company has lost $107 million in the past three months and has only $79 million left in the bank. This situation has raised concerns about the future of over 8,000 employees nationwide. Unions are hoping to find a temporary solution to keep the company afloat and protect jobs.
The casino operator owns and runs casinos in Sydney, on the Gold Coast and in Brisbane, with over 8000 workers nationwide left worried that their jobs are on the line.
The union hopes to find a temporary solution to keep the doors open and the thousands of workers employed. "They've come out of COVID closures, into regulatory issues, into financial issues at the end of last year and again commencing again this year."
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