The Star Entertainment Group has insisted it is working to publish its full-year results but said a release date has “not been finalised.”
The troubled Australian casino operator said its ASX shares would resume trading once the report is published, after The Star was suspended for failing to file its results on time.
The company also said it is “reviewing its financial and liquidity position with various advisers,” after reports claimed it was expected to announce a AU$1.4bn write-down on its casino assets and another cost-cutting program.
“The company confirms that the advice being provided has extended, from time to time, to considering the application of provisions of the Corporations Act 2001 (Cth) (including the safe harbour provisions),” it said.
The Star failed to publish its results on time as it is in the midst of dealing with intense scrutiny of its operations in New South Wales.
The first Bell Report found failings at the property which led to the suspension of its licence and a $100m fine. A second report published last month found that the operator was unsuitable to regain its licence.
The New South Wales Independent Casino Commission is considering its next steps.
At the start of August, the NICC extended the appointment of The Star’s special manager, Nicholas Weeks, until next March.
