Rumours swirl over Star Entertainment takeover bid

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Star Entertainment has seen its share price surge following reports that US based consortium Hard Rock Hotels & Casinos was mulling a takeover offer.

Star said on Monday it has been approached by a consortium of investors which the company believed included a local partner of Hard Rock.

But the Florida-based company has since denied it is considering putting in a bid for the embattled company which has been rattled by a regulatory inquiry.

“We want to make it clear that Hard Rock International is not involved in, nor has it authorised, any discussions, activities or negotiations on its behalf in connection with a proposed bid for Star,” Hard Rock said in s statement.

“Hard Rock International has similarly not authorised the use of the Hard Rock brand in connection with any proposed bid for Star by any third party.

“Any misuse of the Hard Rock name in unauthorised business dealings is taken very seriously. We are currently investigating this matter and will pursue all necessary legal actions to protect our brand and reputation.”