Hard Rock International, the owner of Hard Rock Atlantic City, has officially denied rumors suggesting it is considering a takeover of Star Entertainment, which operates three casinos in Australia.
Last week, several news outlets reported that Star had been approached by Hard Rock International regarding a potential purchase or takeover. However, Hard Rock, owned by the Seminole Tribe of Florida with significant gaming interests in the US, including in Atlantic City, has clarified it is not targeting the Australian-based Star.
Hard Rock distances itself from Star Entertainment
Hard Rock expressed concerns about its brand being associated with a potential purchase of Star Entertainment and was surprised by the reports.
“Hard Rock International wants to make it clear that it is not involved in, nor has it authorized, any discussions, activities, or negotiations related to a proposed bid for Star,” stated Hard Rock International through its public relations firm. “Hard Rock International has also not authorized the use of the Hard Rock brand in connection with any proposed bid for Star by any third party.”
Star Entertainment has faced significant challenges over the past 18 months, including allegations of allowing known criminals to gamble in its casinos and having inadequate anti-money laundering measures. Earlier this year, Star’s chairman, David Foster, resigned amid fines and penalties faced by the company. Despite these issues, Star’s casinos in Brisbane, Sydney, and the Gold Coast have continued operations.
Justification for acquisition rumors
Linking Hard Rock to Star Entertainment is not entirely baseless. Last month, Hard Rock Digital acquired US assets from 888 Holdings plc, signaling an end to 888’s US-based sports betting operations. This deal is expected to close later this year.
Hard Rock aims to enhance its presence and compete with top-tier gambling companies, particularly in the New Jersey online casino market. While the Star Entertainment rumors do not directly impact Hard Rock’s position in New Jersey, they highlight Hard Rock’s ambitions to expand its portfolio and solidify its status in the legal gambling industry.
