Star Entertainment Faces Crisis as Shares Plummet

The Star Entertainment Group Limited (ASX: SGR) suffered a sharp 13.46% drop in its share price, continuing a steep decline. The casino operator, which owns venues in Sydney and Gold Coast, faces dire financial challenges. Its lenders have warned that the company may enter voluntary administration within months if efforts to secure a critical lifeline deal fail. Meanwhile, Lovisa Holdings Limited (ASX: LOV), a jewellery retailer, also saw its stock decline by 3.3%, extending prior losses. The market's response underscores the growing concerns over The Star Entertainment Group’s future, as it struggles to navigate a path forward.

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