The suspension of The Star Entertainment’s casino license for its Gold Coast property has been pushed back until September 30, 2026.
In line with this extension that gives...
Star casino license to remain suspended until late September
According to the NSW Independent Casino Commission (NICC), The Star’s Sydney casino license will remain suspended until at least the end of September.
The Star has been dealing with significant leadership and cultural issues, and it is currently working on fixing them. The shares’ suspension was announced in early March as a result of not submitting financial results on time.
The NICC appointed Nick Weeks to the casino manager role in order to oversee the market. His appointment was initially set to end on March 31, but the NICC requested input from both him and The Star regarding the casino’s ability to hold a license in New South Wales.
NICC chief commissioner Philip Crawford commented:
“We welcome progress in The Star’s remediation efforts and are confident the company is moving in the right direction with its remediation plans. The next six months is a critical phase for The Star, as it will need to show further progress with its remediation activities whilst also stabilising its finances.”
The casino is still in the process of working through the necessary changes before it can regain full operation. Earlier, Star received a $250M lifeline from Bally’s Corporation to recover from ongoing issues.
Australian casino group The Star Entertainment is in tense negotiations with banks, trying to secure breathing space on AU$430 million ($278.5m) in loans.On August 27,...
