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Tag: AU

Australia’s Star Entertainment keen to operate Sydney casino ‘under supervision’
Entertainment

Australia’s Star Entertainment keen to operate Sydney casino ‘under supervision’

Visitors to Sydney's Star Casino play electronic slot machines, February 15, 2016. REUTERS/Jason Reed/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterSept 27 (Reuters) - Star Entertainment Group (SGR.AX) on Tuesday accepted the findings of an inquiry that stated the casino operator unfit to hold a licence in Sydney, but said it should be permitted to continue operating under "strict supervision".The country's second-biggest casino operator said in a statement that it has developed a remediation plan, outlining actions to address "root-cause failings" mentioned in the inquiry report released earlier this month.Australia's casino sector has faced intense scrutiny over the last three years after Star's larger rival Crown Resorts was found unfit to hold gambling lice...
Australia’s Ramsay Health gets ‘inferior’ alternate offer from KKR-led group
Health

Australia’s Ramsay Health gets ‘inferior’ alternate offer from KKR-led group

Aug 25 (Reuters) - Australia's Ramsay Health Care Ltd (RHC.AX) said on Thursday it received a "meaningfully inferior" alternate proposal from a group led by KKR & Co (KKR.N) that would allow it to retain a 37% stake in its Paris-based unit Ramsay Generale De Sante (GDSF.PA).Ramsay currently owns over 52% shares in the Paris-based Ramsay Generale De Sante (Ramsay Sante). If accepted, the alternate offer would give the consortium a 15% stake in the hospital operator, while Ramsay shareholders would retain the balance. read more In April, the consortium comprising of private equity giant KKR and Australian pension fund HESTA, among others, made a cash offer of A$88.0 per share - valuing it at around $15 billion - and had been allowed due diligence on a non-exclusive basis.Register now...
Australia business activity booms in July, costs surge
Business

Australia business activity booms in July, costs surge

View of a construction site for a train station on the Sydney Metro, Australia July 22, 2021. REUTERS/Sam HolmesRegister now for FREE unlimited access to Reuters.comRegisterSYDNEY, Aug 9 (Reuters) - A measure of Australian business confidence rebounded in July as sales and profits held up surprisingly well in the face of rising interest rates and high inflation, though firms also reported record costs amid supply constraints.Tuesday's survey from National Australia Bank Ltd (NAB) (NAB.AX) showed its index of business conditions climbed 6 points to +20 in July, well above its long-run average.Its measure of confidence bounced 5 points to +7, reversing June's decline and leaving it just above the long-run average.Register now for FREE unlimited access to Reuters.comRegister"The strength i...
Indonesia, U.S. to hold military exercise amid heightened Indo-Pacific tensions
Fitness

Indonesia, U.S. to hold military exercise amid heightened Indo-Pacific tensions

U.S. Commanding General for the 7th Infantry Division Major General Stephen G. Smith speaks during a news conference ahead of the Super Garuda Shield 2022 joint excercise, at the U.S. embassy in Jakarta, Indonesia, July 29, 2022. REUTERS/Willy KurniawanRegister now for FREE unlimited access to Reuters.comRegisterJAKARTA, July 29 (Reuters) - Some 4,000 soldiers mostly from Indonesia and the United States will conduct a joint military exercise next week that underscores "the importance we place on a free and open Indo-Pacific region," a senior U.S. military official said on Friday.The annual "Super Garuda Shield" exercise, which the United States called "significantly larger in scope and scale than previous exercises", comes against a backdrop of heightened tensions with China over the la...
Australia’s Star Entertainment flags lower revenue on COVID, regulatory costs
Entertainment

Australia’s Star Entertainment flags lower revenue on COVID, regulatory costs

A tourist poses for pictures at the main sign of The Star Casino, owned by Echo Entertainment, at Pyrmont Bay in Sydney July 4, 2013. REUTERS/Daniel Munoz (AUSTRALIA - Tags: BUSINESS)Register now for FREE unlimited access to Reuters.comRegisterJuly 29 (Reuters) - Australia's Star Entertainment Group Ltd (SGR.AX) said on Friday its annual revenue would dip from year-ago levels, pulled down by long spells of operating restrictions, pandemic-led border closures and high regulatory costs.The country's no.2 casino operator expects a normalized revenue of A$1.53 billion ($1.07 billion) for fiscal 2022, compared with A$1.55 billion last year.The company further cautioned that total costs for its mega-project Queen's Wharf Brisbane are expected to shoot about 10% higher from previous outlook of...