Sept 26Reuters Australia39;s Star Entertainment flagged nearterm liquidity requirements on Thursday and said it would look to raise capital, after the casino operator reported a 71 drop in annual profit due to challenging trading conditions.

The beleaguered firm had A130 million 88.97 million in cash as of Augustend, but will require more capital for group operations at current trading levels, restructuring activities and outflows regarding regulatory matters.

Star continues to assess additional avenues to further support its liquidity position, including other potential capital sources such as subordinated debt, the company said in a statement.

Star secured on Wednesday a twotranche debt lifeline of up to A200 million, with an immediate A100 million injection to deal with cost blowouts the gaming group is facing at its new Queens Wharf resort in Brisbane.

Its underlying posttax profit fell to A12 million in the year ended June 30 from A41 million in the prior year.

The company did not declare a final dividend, consistent with the previous corresponding period.

Star said its trading performance deteriorated over the second half of the financial year 2024, and it continued into the current fiscal.

The cashstrapped casino firm has been plagued with tighter regulatory controls, guest management, and governance compliance costs over the past two years following alleged breaches of antimoney laundering and counterterrorism financing rules.

Trading was suspended in…