Casino
June 2, 2021
Star Entertainment Improves Parental Leave Policies
Star Entertainment Group increases parental leave from 10 weeks to 16 weeks, effective immediately. Star Entertainment Group Increases Parental Leave Time Star Entertainment Group has announced the implementation of a new parental leave policy. The company will increase parental leave for new parents. According to the company, this is an efficient, flexible, and family-friendly decision. The […]
Casino
May 17, 2021
Crown Resorts Might Be Seriously Considering Merger with Star Entertainment
It appears that The Blackstone Group is going to have to head back to the boardroom if it wants to make a play for Crown Resorts. After Star Entertainment Group stepped in with a proposal that would see Crown and Star merge, Blackstone tried to sweeten the pot, but it apparently isn’t enough. Crown’s board […]
Business
May 10, 2021
Crown Resorts Has a New Suitor as The Star Entertainment Offers a Deal
It took a while, but The Star Entertainment Group has finally decided to step forward and offer a deal to purchase the beleaguered Crown Resorts. The casino and hospitality company has submitted a formal proposal to buy out Crown for $7 billion (AUD$9 billion) in an all-stock deal to compete against existing bids by the […]
Business
February 19, 2021
The Star’s Half FY2021 Performance Impacted by Restrictions
The Star Entertainment Group announced in a filing to the Australian Stock Exchange (ASX) its report for the half financial year 2021 ended December 31, 2020, posting statutory revenues of AU$741.4 million. Material Impact on the Business The 29.6% slump in revenues was mainly due to the casino property closures and coronavirus-induced restrictions on the […]
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 […]
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 […]
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 […]