Casino giant Hard Rock International has denied any links to a group that approached Star Entertainment as part of a consortium regarding a possible transaction.
Overnight, US-based Hard Rock released a statement saying it was not linked to suitors that have approached the Star.
Loading
“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 International has similarly not authorised the use of the Hard Rock brand in connection with any proposed bid for Star by any third party.
“Our brand is built on a legacy of integrity, excellence, and a commitment to our guests, partners, and team members worldwide. 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,” Hard Rock said.
The statement comes after Star shares surged 20 per cent on Monday after it said it had received unsolicited and non-binding approaches from various parties.
Star told the ASX on Monday that it understood that one member of a consortium that had approached Star, an entity called Hard Rock Hotels & Resorts (Pacific), was a local partner of Hard Rock.
The statement, which was in response to a media report, sparked a surge in Star shares amid investor hopes of a bidding war.
Source Agencies
