Hard Rock International has distanced itself from rumours it is looking to buy Australian casino operator Star Entertainment, with the latter though confirming an approach by one of Hard Rock’s local partners.
Star confirmed it had received several unsolicited, preliminary, and non-binding approaches but the reported interest from Hard Rock, first published in the Australian Financial Review, has been dismissed by the US operator.
Star stated: “The Star confirms that it has not received a proposal directly from Hard Rock Hotels and Casinos. However, the company has received inbound interest from a number of other external parties regarding potential transactions including a consortium of investors which includes the entity Hard Rock Hotels & Resorts (Pacific), which The Star understands is a local partner of Hard Rock. The nature of the interest to date has been confidential, unsolicited, preliminary and non-binding. At this stage, none of the approaches has resulted in substantive discussions.
“The Star remains focused on its remediation activities in New South Wales and Queensland and participating in the Bell Two Inquiry. binding. At this stage, none of the approaches has resulted in substantive discussions. The Star remains focused on its remediation activities in New South Wales and Queensland and participating in the Bell Two Inquiry. The Star will keep shareholders informed in accordance with its continuous disclosure obligations.”
