Big spenders are steering clear of Star Entertainment Group’s three casinos, as the company’s former and current senior executives prepare to front another public inquiry.
High-roller gamblers are steering clear of Star Entertainment Group’s three casinos, as the company’s former and current senior executives prepare to front another public inquiry into whether its Sydney casino should stay open.
Bell’s second inquiry into Star Sydney will start on Monday. His verdict regarding its suitability to operate will seal its fate.The Star’s statutory loss after tax over the three months was $6.8 million, a significant improvement on the $50 million loss over the same period in 2023. The quarterly loss reflects $10 million in significant items such as provisions for a yet-to-be determined Austrac fine and the legal costs of the second inquiry.
“The board and management will continue to exercise cost control with a focus on making the appropriate investment in improving the control environment,” The Star said in its update.Adam Bell SC was engaged by the NSW Independent Casino Commission last month to conduct a second probe into the Pyrmont business following concerns it has failed to reform its culture since the regulator suspended its licence to operate its casino in October 2022.
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