Hard Rock Denies Rumor of Interest in Australia’s Star Entertainment

In recent developments concerning Hard Rock International and Australia's Star Entertainment Group, Hard Rock has decisively denied any involvement in discussions regarding the acquisition of Star Entertainment. This comes in response to media reports suggesting otherwise, which indicated Hard Rock's purported role in a consortium eyeing the acquisition amidst regulatory scrutiny surrounding Star's casino license for The Star Sydney.

Star Entertainment Group addressed these reports in a statement to the Australian Securities Exchange (ASX), confirming receipt of interest from various external parties regarding potential transactions.

Among these expressions of interest was speculation linking Hard Rock Hotels & Resorts (Pacific) as a local partner in a consortium. Hard Rock's official statement unequivocally stated their non-participation in any negotiations, activities, or discussions related to a potential takeover bid for Star Entertainment Group.

The company clarified that it has not authorized the use of its brand in connection with any such bid by third parties. This firm stance underscores Hard Rock's commitment to maintaining the integrity and reputation of its globally recognized brand.

Hard Rock emphasized three key points:

• It is not engaged in any discussions or negotiations regarding Star Entertainment.

• It has not authorized the use of its name or branding in any external consortiums.

• It reserves the right to take legal action against any unauthorized representation of its brand.

Highlighting its core values of integrity, excellence, and stakeholder commitment, Hard Rock emphasized its serious approach to protecting its brand. The company hinted at potential legal measures against unauthorized use of its name in business dealings, reaffirming its dedication to upholding high standards across its operations.

Additional clarifications included:

• The individual reportedly linked to Hard Rock had ties only to Hard Rock cafés, not the casino brand.

• Hard Rock’s casino division recently gained attention for acquiring The Mirage in Las Vegas, distinguishing it from unrelated entities.

• Star Entertainment’s approaches from interested parties were described as confidential, unsolicited, preliminary, and non-binding.

Despite expressions of interest from various quarters, the company emphasized that none had progressed to substantive discussions or negotiations at the time of their latest update.

The situation underscores:

• The complexities of major corporate transactions,

• The importance of transparency and brand protection, and

• The need for regulatory clarity in high-stakes acquisitions.

Both Hard Rock International and Star Entertainment Group continue to navigate these developments with a focus on safeguarding their respective interests amidst evolving market dynamics and regulatory environments.