Casino
August 21, 2020
Star’s Fiscal 2019 – 2020 Year Revenues Down 31%
The Star Entertainment Group announced its full financial year ending June 30 results, focusing on the pre-pandemic period. The Group posted just under AUD$1.5 billion in net revenue, a 31% decline from the previous fiscal year. The casino operator reported earnings before interest, tax, depreciation and amortization (EBITDA) of AUD$282 million, 49% drop from the […]
Casino
August 16, 2020
Star Casino Fined $90,000 for Breaching of Security Standards
The Independent Liquor and Gaming Authority (ILGA) in New South Wales (NSW) has issued a AUD$90,000 fine to Star Casino in Sydney for allowing minors access to the gaming floor and gambling. The casino self-reported the 3 cases to the gaming regulator but it did not stop ILGA from dishing the penalty. Multiple Cases of […]
Legal
August 5, 2020
NSW Inquiry: Star Could Not Find Credible Evidence
Star Entertainment Group was the latest to feature in the inquiry initiated by the government in New South Wales (NSW) into the dealings of casino operator Crown Resorts with the junket firm Suncity. The ASX-listed group informed regulators that they switched Suncity to another part of the casino and tasked its internal anti-money laundering and […]
Casino
July 26, 2020
AUS: Star Entertainment Rolled Back COVID-19 Restrictions
A maximum of 300 patrons will be allowed at Star Sydney casino property following restrictions which were rolled by the New South Wales government. COVID-19 Restrictions at Star Sydney Casino Property Rolled Back Star Entertainment has announced the rollback of restrictions at its Star Sydney casino property. The restrictions are aimed at reducing the possibility […]
Legal
July 14, 2020
Star Casino Fined for Breach of Public Health Orders
Liquor & Gaming NSW, the regulatory body responsible for liquor, wagering, gaming and registered clubs in New South Wales, Australia, announced it will impose a fine to the operator of Star Casino, Star Entertainment Group. The casino that has been found in breach of public health orders relating to virus risk mitigation after groups of […]
Casino
July 13, 2020
Star Denied Exclusivity, Yet No Second Queensland Casino
Second casino license in the Australian state of Queensland will not be awarded, the government in the state announced, as investor appetite has waned due to the current uncertainty stemming from the ongoing health situation. The state will not grant the requested long-term exclusive casino license to Star Entertainment Group as both sides failed to […]
Casino
July 1, 2020
Star Entertainment Released an Update on Property Reopenings, Relaxing COVID-19 Restrictions
The Star announced an update on its property reopenings which includes relaxing of COVID-19 measures. The announcement also shed a light on The Star Sydney performance during the last month. The operator said that its Queensland properties will reopen on July 3. The Star Sydney Can Welcome up to 5,000 Guests at Any Time as […]
Business
June 2, 2020
Star and NSW Government Reach a 20-Year Agreement, EGMs and Tax the Focus
Gaming and hospitality operator The Star Entertainment Group announced Monday it signed an agreement with the New South Wales Government to ensure regulatory certainty regarding protecting the exclusivity of its The Star Sydney casino in terms of providing electronic gaming machines (EGMs). As part of the agreement, a flat tax rate as a percentage of […]
Business
April 30, 2020
Flutter Entertainment and The Stars Group Set Merger Date for May 5
Paddy Power Betfair parent company Flutter Entertainment is drawing closer to the long-anticipated merger with The Stars Group (TSG). After shareholders from both companies have approved the move and regulators have given their go-ahead, the merger will be completed on Tuesday, May 5. This will conclude the process that began back in October 2019, when […]
Business
April 16, 2020
Star Entertainment and Crown Resorts Cut Executives Pay
Australia’s largest casino operators, The Star Entertainment Group and Crown Resorts, have adopted measures to weather the COVID-19 occasioned lockdown without taking too much of a financial hit. Crown Resorts and The Star Entertainment Group Updated Securities Filings Australian casino giants have taken serious pay cuts across their executive staff to help weather the coronavirus […]