Business & Finance / 03 September 2024
A suspended Star
One of Australia’s biggest casino companies has been suspended from trading on the Australian Stock Exchange after it failed to post its full-year financial results by Friday’s deadline. Reports say Star Entertainment Group is trying to raise hundreds of millions of dollars from investors to keep it afloat and requested the halt in trading after a second damning report into its Sydney venue released that day. It found casino bosses had failed to address a culture of unethical conduct and criminal infiltration first revealed in 2022. The findings published by the New South Wales Independent Casino Commission – aka the NICC – back up the original Bell Report that uncovered evidence of money laundering/fraud. The regulator is now considering the findings, while NSW Gambling Minister David Harris insists the government is committed to a “safe and responsible casino industry”.
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