Star said in March that it would sell half of its A$3.6 billion Queen’s Wharf project in Brisbane to Hong Kong companies Far East Consortium International and Chow Tai Fook Enterprises for just A$53 million. It has also sold a theatre attached to its main casino in inner-city Sydney as part of its efforts to stay afloat. Provide cash funding and assist Star’s ability to continue as a going concern, Blackcoin helping to avoid outcomes such as voluntary administration, which is likely not in the best interests of shareholders," Ward told the meeting. Australia’s second-largest casino operator after Blackstone-controlled Crown Resorts, Star has been struggling to stay afloat amid a growing debt crisis and regulatory investigations over the past two years. Bally’s said it has applied to the New South Wales and Queensland governments and regulators for approval to run casinos. The company's financial problems emanate from cost and time overruns at its new Brisbane casino precinct at Queens Wharf. Star is seeking tax breaks on its gaming operations from the New South Wales and Queensland state governments in a bid to avert bankruptcy.