Star Entertainment to submit is financial report soon
Star Entertainment announced that it is reviewing its financial position with advisors and will soon submit its delayed annual report.The Star Entertainment Group Limited...
Star Entertainment Group suspended from trading in Australia
Australian Securities Exchange suspended Star Entertainment Group from trading on September 2.
The Star Entertainment Group Limited is an Australian gambling and entertainment company, founded in 2011. The company has casinos in Sydney, Brisbane, and the Gold Coast. It has been suspended from trading on the Australian Securities Exchange (ASX) after missing the deadline to submit its annual financial report.
The news has been announced today and follows a report from the NSW Independent Casino Commission (NICC), that revealed the company’s issues. Six other companies together with Star Entertainment were also suspended to trade.
Previously, it was announced that Star Entertainment’s Sydney license would remain suspended as a result of ongoing issues.
Despite ongoing issues and after eight years of construction, the group opened the Star Grand Hotel and Casino in Brisbane’s impressive $3.6 billion Queens Wharf precinct. The casino is now open and running under a remediation plan approved by the Queensland state government and is being closely monitored by a regulator.
FAQs
What does Star Entertainment do?
The Star Entertainment Group Limited is an Australian gambling and entertainment company founded in 2011. It operates casinos in Sydney, Brisbane, and the Gold Coast.
Why has the Star Entertainment Group been suspended from trading?
The Star Entertainment Group has been suspended from trading by the Australian Securities Exchange (ASX) due to its failure to publish its annual financial report by the due date of August 31, 2024.
How has the regulatory action affected Star’s financial performance?
Regulatory issues have significantly impacted Star’s financial results. Last August, the company reported a full-year loss of AU$2.4 billion. Significant expenses included regulatory fines, impairment charges, and other related costs.
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NSW keeps Star Entertainment’s Sydney license suspended
The Star Entertainment won't be taking back control of its Sydney casino after numerous failures.The Star Entertainment Group Limited is an Australian gambling and...
