Hard Rock Refutes Star Investment Negotiation Allegations

Hard Rock denies claims that it has been in talks to invest with Star.

There are news stories about Hard Rock considering an investment in Star Entertainment, an Australian casino company. An article said Hard Rock might join a group to invest in Star, which could lead to a name change. However, Hard Rock has said it's not true, making it clear that they have not discussed or shown interest in this investment.

Is it a case of misunderstanding each other or not talking at all?

Here's what's going on:

• The Australian Financial Review ran a story implying Hard Rock wanted a piece of Star.
• Star Entertainment acknowledged they had some interest from outsiders, but nothing solid.
• They then clarified, saying Hard Rock hadn't approached them, just part of a group that did.
• Hard Rock came out strong, denying everything. They've not talked, not interested, not happy.

Hard Rock takes their name seriously and may take legal action if it's used incorrectly. They want people to believe only the information that comes directly from them, not from others.

What's Star Saying Now?

Star Entertainment responded briefly to Hard Rock's news, confirming their rejection and assuring investors they would provide correct information as soon as possible.

Deal or No Deal?

Hard Rock mentioned that it isn't considering a deal with Star, but it has purchased consumer-facing parts of 888's business in the US. The specifics of this deal haven't been shared, but it is a confirmed activity, which is not the case with the Star situation.

Star's Rough Patch

Star is in a difficult situation because there have been questions about how they run their business and their behavior in New South Wales. Their Queensland license was almost lost but they managed to keep it for a little longer. They've also had to replace many of their top leaders. They really need some positive developments, but they can't afford to get involved in false rumors.

Star's Performance

Star's financial situation isn't completely bad. Their latest quarterly report revealed a smaller loss than before. However, their income and profits have decreased. The results are unclear, suggesting they should consider different strategies.

Hard Rock is not interested in this opportunity and they're upset that people mentioned their name in relation to it. So, Star will have to move forward without Hard Rock being involved.