Star Entertainment’s planned 50% stake sale in its A$3.6 billion Brisbane resort failed after Hong Kong-based investors refused to extend talks, sending shares to a record low. The collapse of the deal marks a major setback for the Australian casino operator, on the brink of bankruptcy due to regulatory probes and mounting debt.

Star will have to repay investors A$41 million by September 5 after failing to reach consensus on the stake sale. Future equity contributions of about A$200 million and possible additional equity injection are required for the project’s debt facility refinancing in December.

Shares in the embattled casino operator tanked more than 17% to a record low of 9.1 Australian cents per share. The A$1.4 billion debt refinancing due in December is a crucial moment, with survival uncertain amid declining cash flow and unclear commitments.

Read more at Yahoo Finance: Star Entertainment’s Brisbane casino deal collapses; shares hit record low