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In a statement provided to Gambling Insider, Hard Rock International has denied any financial interest nor involvement with Star Entertainment Group.
As quoted from the statement, Hard Rock International clarifies that: “Hard Rock International is not involved in, nor has it authorised, any discussions, activities or negotiations on its behalf in connection with a proposed bid for Star.”
“Hard Rock International has similarly not authorised the use of the Hard Rock brand in connection with any proposed bid for Star by any third party.”
The Tribeal operator also further warned that any misuse of the Hard Rock name in unauthorised business dealings will be taken seriously, where the matter will be investigated and necessary legal actions taken to protect their brand and reputation.
At the same time, Star Entertainment has also released its own ASX announcement today, affirming that it did not receive any proposal directly from Hard Rock International and “has not engaged in substantive discussions with the consortium in respect of its proposal” despite having earlier received “inbound interest from a number of external parties regarding potential transactions, including an incomplete and indicative proposal from a consortium of investors which included the entity ‘Hard Rock Hotels & Resorts (Pacific)’”.
The discussions came up right after Star Entertainment saw its CEO and CFO replaced, their former Chairman David Foster stepping down, and a 14.6% revenue decrease in their H1 2024 report.
The group was also faced with investigations by the NSW Independent Casino Commission following alleged misconduct, which saw Gold Coast CEO Jessica Mellor resigning less than a week later after said case was reported.
