Casino
April 3, 2023
Star Sydney CEO Resigns at a Crucial Time for the Embattled Casino
Wharton’s decision to leave Star leaves the operator leaderless amidst ongoing anti-money laundering reforms, up to $1 billion in fines, several lawsuits, and a potential tax hike on the horizon. As the person responsible for restoring order and compliance to the struggling casino, his departure has caused substantial concern among regulators. However, Star Entertainment CEO […]
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 […]
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 […]
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 […]
Legal
December 9, 2022
Star Entertainment Slapped with Second AU$100M Fine in Australia
Australia’s Star Entertainment Group has received a second AU$100 million fine in less than two months, with the company investigated by the Queensland state government, and found in breach of a number of laws. Star to Pay Another AU$100M Fine in Australia The new fine was announced by AG Shannon Fentiman on Friday, which considered […]
Casino
October 31, 2022
Bradley Leaves The Star Following Inquiry
The Star Entertainment Group has parted ways with Gerard Bradley, one of its board of directors members. Bradley had previously announced that he may exit the company’s board and has now officially resigned from the position. Bradley Left as He Had Promised Bradley first shared that he is considering resigning from the company right before […]
Casino
October 24, 2022
The Star Is Ready to Implement Remediation Program
After inviting Zhan Spalding to join its senior leadership team in the freshly created general manager surveillance Queensland position in September and further proving its support for gender equality, The Star Entertainment Group is back with a fresh announcement. Allen & Overy, its appointed team of independent advisers, has just finished its first report. The […]
Casino
September 27, 2022
Star Wants to Continue Operating Under Supervision
The Star Entertainment Group was recently found unsuitable to hold a casino license in Sydney. Now, the company has announced that it wants to do everything in its power to retain its license. The Australian casino giant proposed to operate its venue under strict supervision. The Company Is in Deep Trouble Star was deemed unsuitable […]