Latest news with #SteveMcCann
The Australian
10-05-2025
- Sport
- The Australian
Briasa confirmed for The Everest
Brilliant TJ Smith Stakes winner Briasa, racing's new 'grey flash', is the second horse locked in for this year's $20m The Everest. Hawkes Racing made the announcement at lunch time on Saturday with the gelding snapped up by slot holders Max Whitby, Steve McCann, Colin Madden and Neil Werrett. Briasa confirmed himself as one of the most exciting sprinters in the country when the son of Smart Missile got the better of Overpass to prevail in the Group 1 TJ Smith Stakes on day one of The Championships. 'It's very exciting obviously but it's nice to get it done early so we can map out the best way to get him there to give us the best possible chance at the race,' co-trainer Michael Hawkes said. 'He's still out in the paddock for a bit but we'll work out when we get him back and he'll guide us on the path we plot. 'He'll have one or two runs into The Everest and he stay in Sydney and he'll run in the lead ups. 'We just need to decide how many and which ones.' Briasa's rise into The Everest calculations has been sensational with the rising five-year-old only breaking his maiden in autumn last year. He's since put together seven wins from 10 starts and Hawkes, who trains in partnership with his father John and brother Wayne, believes his best could still be ahead of him. Michael Hawkes. Picture:'He's a young horse that's still learning but he's already got a TJ under his belt,' he said. 'Six months ago, he was in a benchmark 85 on the Kensington so to have come that far in such a short time only emphasises how exciting he is, and we still don't know where his ceiling is. 'Every preparation he's improved as a racehorse and there's no reason why that won't be the case again when he starts off his Everest campaign.' Unbeaten colt Private Harry was the first horse locked in for The Everest following his The Galaxy victory on Golden Slipper day. The Nathan Doyle-trained sprinter was purchased by racing and breeding powerhouse Yulong after the win and will run in their slot in the race. The Everest betting is dominated by Hong Kong superstar Ka Ying Rising ($1.90 favourite) with plans for the David Hayes-trained sprint weapon still to be officially snapped up for the race. Private Harry is the $6 second favourite with Briasa on the third line of betting at $8.
News.com.au
10-05-2025
- Sport
- News.com.au
Briasa locked and loaded for The Everest
Brilliant TJ Smith Stakes winner Briasa, racing's new 'grey flash', is the second horse locked in for this year's $20m The Everest. Hawkes Racing made the announcement at lunch time on Saturday with the gelding snapped up by slot holders Max Whitby, Steve McCann, Colin Madden and Neil Werrett. Briasa confirmed himself as one of the most exciting sprinters in the country when the son of Smart Missile got the better of Overpass to prevail in the Group 1 TJ Smith Stakes on day one of The Championships. 'It's very exciting obviously but it's nice to get it done early so we can map out the best way to get him there to give us the best possible chance at the race,' co-trainer Michael Hawkes said. 'He's still out in the paddock for a bit but we'll work out when we get him back and he'll guide us on the path we plot. 'He'll have one or two runs into The Everest and he stay in Sydney and he'll run in the lead ups. 'We just need to decide how many and which ones.' Briasa's rise into The Everest calculations has been sensational with the rising five-year-old only breaking his maiden in autumn last year. He's since put together seven wins from 10 starts and Hawkes, who trains in partnership with his father John and brother Wayne, believes his best could still be ahead of him. 'He's a young horse that's still learning but he's already got a TJ under his belt,' he said. 'Six months ago, he was in a benchmark 85 on the Kensington so to have come that far in such a short time only emphasises how exciting he is, and we still don't know where his ceiling is. 'Every preparation he's improved as a racehorse and there's no reason why that won't be the case again when he starts off his Everest campaign.' Briasa is brilliant in the G1 T J Smith Stakes! He makes it 7 wins from just 9 starts as he races away for @HawkesRacing and @G1TySchil! ðŸ'¨ @aus_turf_club | @WorldPool — SKY Racing (@SkyRacingAU) April 5, 2025 Unbeaten colt Private Harry was the first horse locked in for The Everest following his The Galaxy victory on Golden Slipper day. The Nathan Doyle-trained sprinter was purchased by racing and breeding powerhouse Yulong after the win and will run in their slot in the race. The Everest betting is dominated by Hong Kong superstar Ka Ying Rising ($1.90 favourite) with plans for the David Hayes-trained sprint weapon still to be officially snapped up for the race. Private Harry is the $6 second favourite with Briasa on the third line of betting at $8.
Yahoo
10-03-2025
- Business
- Yahoo
Star Entertainment: money laundering claims to teetering on the brink
(Reuters) - Australia's beleaguered casino operator Star Entertainment has received an offer of A$250 million ($158 million) from U.S. casino group Bally's for just over half of its shares, as the debt-laden casino operator reviews options to stay afloat. Years of regulatory scrutiny and penalties following money laundering accusations, management exodus, and border closures due to COVID-19 have pushed Star, the country's second-largest casino operator to the brink of bankruptcy. Here is a timeline of the firm's struggle to keep the lights running at its casinos over the past four years. Late 2021 Media outlets reported that Star's own internal review accused the company of failing to rein in money laundering and fraud at its two resorts. The state of New South Wales began a public inquiry and Australia's financial crime regulator (AUSTRAC) initiated a probe into possible breaches of anti-money laundering (AML) laws at Star's largest casino in Sydney. January 2022 AUSTRAC broadened its investigation into Star over possible breaches of AML and counter-terrorism laws at the company's casinos. March 2022 Star's CEO Matt Bekier resigned due to AUSTRAC's probe. June 2022 Queensland state launched its own investigation into Star. The company also has casinos in Brisbane and the Gold Coast. September 2022 New South Wales inquiry found Star unfit to hold a casino licence in the state. December 2022 Star handed an A$100 million penalty by the Queensland government. Early 2024 Star faced a second inquiry in NSW after the casino regulator accused the company of failing to improve its governance to a satisfactory degree. Star's new CEO and CFO quit. June 2024 Star appointed Steve McCann, a former CEO of Crown Resorts and property giant Lendlease, as its new CEO to lead it through another regulator inquiry in New South Wales. August-September 2024 Star was again found unfit to hold the licence in Sydney and filed its annual results a month past the regulatory deadline. The company said its corporate lenders agreed to provide a debt facility of up to A$200 million. October 2024 Star fined A$15 million by the New South Wales' gaming regulator. January 2025 Star said its available cash was A$78 million at the end of December 2024. February 2025 U.S.-based Oaktree offered to refinance A$650 million of Star's debt in what could be a major lifeline for the cash-strapped firm. Star failed to post its interim results by the February-end deadline and again spoke to financiers about a bailout. March 2025 Star received a bailout offer in the form of a refinancing proposal with potential to provide debt funding of up to A$940 million and an A$250 million bridging facility. The company also said it would sell 50% stake in its Queen's Wharf project in Brisbane to Far East Consortium International and Chow Tai Fook Enterprises. Star also received a proposal from U.S.-based casino operator Bally's Corp to inject A$250 million of funding, in the form of a capital raise leading to Star issuing convertible notes to its existing senior lenders. ($1 = 1.5972 Australian dollars)
Reuters
10-03-2025
- Business
- Reuters
Star Entertainment: money laundering claims to teetering on the brink
March 10 (Reuters) - Australia's beleaguered casino operator Star Entertainment ( opens new tab has received an offer of A$250 million ($158 million) from U.S. casino group Bally's (BALY.N), opens new tab for just over half of its shares, as the debt-laden casino operator reviews options to stay afloat. Years of regulatory scrutiny and penalties following money laundering accusations, management exodus, and border closures due to COVID-19 have pushed Star, the country's second-largest casino operator to the brink of bankruptcy. Here is a timeline of the firm's struggle to keep the lights running at its casinos over the past four years. Late 2021 Media outlets reported that Star's own internal review accused the company of failing to rein in money laundering and fraud at its two resorts. The state of New South Wales began a public inquiry and Australia's financial crime regulator (AUSTRAC) initiated a probe into possible breaches of anti-money laundering (AML) laws at Star's largest casino in Sydney. January 2022 March 2022 Star's CEO Matt Bekier resigned due to AUSTRAC's probe. June 2022 Queensland state launched its own investigation into Star. The company also has casinos in Brisbane and the Gold Coast. September 2022 New South Wales inquiry found Star unfit to hold a casino licence in the state. December 2022 Star handed an A$100 million penalty by the Queensland government. Early 2024 Star faced a second inquiry in NSW after the casino regulator accused the company of failing to improve its governance to a satisfactory degree. Star's new CEO and CFO quit. June 2024 Star appointed Steve McCann, a former CEO of Crown Resorts and property giant Lendlease, as its new CEO to lead it through another regulator inquiry in New South Wales. August-September 2024 Star was again found unfit to hold the licence in Sydney and filed its annual results a month past the regulatory deadline. The company said its corporate lenders agreed to provide a debt facility of up to A$200 million. October 2024 Star fined A$15 million by the New South Wales' gaming regulator. January 2025 Star said its available cash was A$78 million at the end of December 2024. February 2025 U.S.-based Oaktree offered to refinance A$650 million of Star's debt in what could be a major lifeline for the cash-strapped firm. Star failed to post its interim results by the February-end deadline and again spoke to financiers about a bailout. March 2025 Star received a bailout offer in the form of a refinancing proposal with potential to provide debt funding of up to A$940 million and an A$250 million bridging facility. The company also said it would sell 50% stake in its Queen's Wharf project in Brisbane to Far East Consortium International ( opens new tab and Chow Tai Fook Enterprises. Star also received a proposal from U.S.-based casino operator Bally's Corp (BALY.N), opens new tab to inject A$250 million of funding, in the form of a capital raise leading to Star issuing convertible notes to its existing senior lenders. ($1 = 1.5972 Australian dollars) Make sense of global markets with the Trading Day newsletter. Sign up here.
Reuters
03-03-2025
- Business
- Reuters
Australia's Star Entertainment seeks rescue financing amid trading suspension
March 3 (Reuters) - Australia's Star Entertainment ( opens new tab on Monday said it would not be able to announce its first-half results till its secures a rescue financing, after the country's stock exchange suspended trading in the embattled casino operator's shares. The suspension will remain in place until the company lodges its financial results and the exchange determines whether trading can resume. Star Entertainment, already reeling from regulatory scrutiny and financial instability, now finds itself in deeper turmoil as investors are left in the dark about its financial health. The company reiterated concerns over its survival, saying "there remains material uncertainty as to the group's ability to continue as a going concern." Star Entertainment and its CEO, Steve McCann, have been scrambling to secure funding in a last-ditch effort to prevent the business from collapsing. For years, Star and larger rival Crown Resorts, owned by Blackstone (BX.N), opens new tab, have faced multiple inquiries into violations of anti-money laundering rules and subsequent legal woes. The cash-strapped firm has been grasping at straws to stay afloat, with the latest attempt being a receipt of proposal from U.S.-based Oaktree Capital Management ( to refinance around A$650 million ($403.78 million) of debt. In January, Star flagged serious liquidity concerns, revealing it had only A$79 million in available cash as of December 2024.
