The Star Entertainment Group (ASX:SGR) has raised concerns about its ability to continue as a "going concern" due to ongoing financial and liquidity issues, according to a Monday filing with the Australian bourse.

The company is unable to meet conditions for additional funding and faces challenges in raising AU$150 million in subordinated debt, the filing said.

With reduced cash reserves as of Dec. 31, the group is exploring alternative liquidity solutions but cautioned that there is no certainty these will resolve its financial difficulties, the filing added.

The gambling and entertainment firm acknowledged that without successful funding, its ability to stay afloat is at risk.

Shares of the company fell past 9% in recent Monday trade.