Star shares jump around 21
Star confirms Hard Rock a potential buyer
Co needs to engage entire base to ensure takeover successful analyst

May 20 Reuters Star Entertainment on Monday confirmed it had received approaches for potential transactions from parties, including a group of investors consisting of Hard Rock Hotels and Casinos, as the troubled Australian firm tries to revamp operations.

Star39;s shares were up about 21, as of 0407 GMT, while the benchmark index traded 0.7 higher.

The Australian Financial Review reported earlier in the day that a consortium led by Floridabased Hard Rock was considering taking control of Star.

After that, Star Entertainment said it had received inbound interest from a number of external parties but flagged none of them had yet resulted in substantive discussions.

About a couple of hours later Star updated the market again, saying Hard Rock Hotels Resorts Pacific was among a group of investors who are looking to buy the firm. It did not give other details.

Australian casino operators have been under the lens of regulators over the last few years with Star39;s major rival, Blackstoneowned Crown Resorts facing similar inquiries that exposed a slew of wrongdoing.

Star is currently undergoing a regulatory inquiry to keep its gaming license at the Sydney casino which makes the firm39;s future uncertain. The Sydney inquirys final report is due July 31. It is also looking for a new chairman and a CEO after both resigned earlier…