Star Casino

2022 - 10 - 17

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Image courtesy of "City Hub Sydney"

Star Casino hit with $100 million fine and license suspension (City Hub Sydney)

The Star Casino has been issued a license suspension by the NSW Independent Casino commission (NICC) this morning, however will...

Nicholas Weeks from Wexted Advisors will take on the role, however Crawford maintains that the overseeing by a manager “does not mean the NICC believes The Star is suitable to hold a casino licence”. He said that at current the Star is “willing to cooperate with the regulator”. The Star will also have to cough up a $1 million fine, and has been appointed an independent manager by the NICC so that the casino can continue operations without its license.

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Image courtesy of "Crikey"

Star Casino's 'penalty' is so weak even the Financial Review can't ... (Crikey)

The 'penalty' imposed on Star Casino in NSW after revelations of systemic misconduct is woefully inadequate.

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Image courtesy of "Motley Fool Australia"

Does ASX 200-listed Star Casino have the cash for its $100 million ... (Motley Fool Australia)

Does Star Entertainment Group Ltd (ASX: SGR), also known as Star Casino, have deep enough pockets for its fine? Here's a closer look.

There is a 100 per cent desire from the Star point of view that we want to get the business back to suitability. At the end of FY22, Star had over $1.3 billion in interest-bearing liabilities. Notably, there is a considerable amount of debt already on the company’s balance sheet. However, the company only held $82 million in cash and equivalents at the end of June 2022. Does Star even have a lazy $100 million lying around in cash to foot the bill? Now the question on the lips of shareholders is: What’s next?

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