The Star Entertainment Group (ASX: SGR) saw its share price plunge by 25.6% following a market announcement revealing it has only $79 million in cash reserves. This figure is significantly lower than its expenditures over the last three months. The company is grappling with meeting the conditions of a $100 million loan facility it had arranged, adding to its financial distress. Star Entertainment’s challenges highlight concerns about its liquidity and ability to manage operational demands, further impacting investor confidence.
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