The Star Entertainment Group halted trading on its stock on Friday after the results of the so-called Bell II Inquiry showed the company is still not suitable to operate the Star Sydney casino.
As a result, The Star also delayed the release of its fiscal 2024 earnings results that were due to be published on Friday. The New South Wales Independent Casino Commission said it is considering next steps.
The Star is reported to be urgently seeking additional funding and tax relief from both New South Wales and Queensland governments to prevent financial collapse, according to Inside Asian Gaming.
The Star is expected to announce a AU$1.4bn write-down on its casino assets and another cost-cutting program, Australian Financial Review reported.
Source: Fantini's Gaming Report
