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Gambling News - 'Star entertainment group'
Business
March 22, 2023
Star Entertainment Appoints David Foster as Chairman amidst Ongoing Difficulties
The company is experiencing significant hardships after losing its New South Wales and Queensland licenses, owing hundreds of millions in fines and facing several class action lawsuits. Foster’s appointment is part of an ongoing process to remedy the company’s shortcomings, ensure compliance and contest unjust allegations. The new chairman remains optimistic regarding the company’s future […]
Legal
March 20, 2023
The Star Confesses Sale of Gambling Chips with Credit Cards
A probe into Star Entertainment’s operations last year uncovered deficiencies and alleged ties to criminal activities such as money laundering. The investigation, led by Adam Bell SC, which became popular as the Bell Review, sought to determine the eligibility of The Star to hold a license. In light of this, the NSW Independent Casino Control […]

Business
March 6, 2023
Aussie Pokie Tycoon Acquires Major Stake in Star Entertainment Group
The company has been facing financial difficulties and a drop in its share prices. Mathieson, with his sharp business acumen, has seen a long-term potential for growth and development in Star Entertainment Group and invested a whopping AUD142 million ($96 million) to acquire his stake in the company. Bruce Mathieson plans long-term investment in Star […]

Legal
March 2, 2023
Star Entertainment Group Provides $101M for Fines and Penalties
As a result, the Australian Securities and Investments Commission (ASIC) has prompted The Star to provide for fines and penalties of AUD 150 million ($101 million) in its financial report for the half-year which ended on December 31, 2022. Star Entertainment Could Be Slapped with Fines of up to $1B As part of its financial […]

Business
February 23, 2023
The Star Reports Loss in H1 FY23, Plans to Raise Equity
Australian entertainment and gambling company The Star Entertainment Group released its H1 FY23 results acknowledging net loss and plans for equity raising. The company’s gross revenue for the period was AU$1.01 billion ($689.1 million), while normalized EBITDA was AU$200 million ($136.4 million) and net profit was AU$44 million ($30 million) for the six months until […]

Industry
February 20, 2023
The Star Gives a Sneak Peek into Its Sky Deck at Queen’s Wharf Brisbane
Australian casino giant The Star Entertainment Group has teased fans, industry enthusiasts and competitors with a sneak peek into its Sky Deck at Queen’s Wharf Brisbane property. The company, which believes that the venue will soon become one of the most photographed spots in the city, shared a timelapse video of the development, alongside some […]
Legal
February 17, 2023
Workers Union Blasts NSW Proposal to Increase Taxes for Pokies
Amid the review of The Star Entertainment’s NSW and Queensland operations, a new proposal calls to increase the tax rate for the company’s NSW location. The new proposal calls to increase the tax rate to nearly 61% for the poker machines within casinos. The change, if approved, is expected to be implemented starting in July […]
Business
February 13, 2023
Preliminary Results Predict 1% Revenue Drop for The Star in H1 FY23
The operator released its unaudited results for H1 FY23, revealing strong performance but an overall drop in revenue. The Star explained that for H1 FY23, the domestic revenue of The Star Gold Coast increased by 30% when compared to the corresponding period pre-COVID or H1, FY19. This result marked an achievement for the company as […]
Legal
February 7, 2023
Two More Class Actions Filed Against Star Entertainment Group
The allegations claim that the company made false statements regarding their anti-money laundering and counter-terrorism financing duties. This follows previous similar lawsuits filed against The Star by Slater & Gordon in March 2022 and Maurice Blackburn in November 2022. Angry Shareholders Join Two New Class Actions Against Star Entertainment Group Business News Australia reported that […]

Legal
December 13, 2022
ASIC Puts 11 Star Entertainment Members on Trial
The Australian Securities and Investments Commission (ASIC), Australia’s national corporate regulator, is suing 11 current and former elite members of The Star Entertainment Group’s team. This includes several directors and officers who, the ASIC argues, were largely responsible for the company’s AML breaches. Star Entertainment Became Notorious for Its Failings The corporate authority alleges that […]