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Tag Archives: The Star

Australia – The Star fights back over media reports of AML breaches

Australian casino operator Star Entertainment has fought back against recent media reports that included allegations against The Star in relation to reports by KPMG, slamming them as ‘incorrect.’ The Star said: “Recent media reports have asserted that reports prepared by KPMG in 2018 were kept secret and notadequately acted on. These assertions are incorrect. The…

Australia – The Star loses $1bn in value as media scrutiny turns to its money laundering failures

Australian casino group Star Entertainment saw its shares fall by 22.9 per cent, taking nearly $1bn off the company’s market value, following a TV report by 60 Minutes and news paper articles in The Sydney Morning Herald and The Age, claiming Star allowed money laundering by organised crime at its Sydney and Gold Coast casinos….

Australia – ILGA to investigate The Star’s handling of junkets and AML measures

The New South Wales Independent Liquor & Gaming Authority (ILGA) has appointed Adam Bell SC to undertake a review of The Star casino’s operations with particular scrutiny to be placed on how the casino handled its junket operations and what anti-money laundering measures it had in place. ILGA chair Philip Crawford said the review will…

Australia – Star back in profit but confirms asset sales and sell and lease back on Sydney casino

Australian casino group Star Entertainment has swung back to full-year profit but has confirmed it has been selling some non-core assets to survive the effects of COVID-19 and that it has also started the process of selling half of its Sydney casino and getting it back on lease. It is planning on selling a VIP…

Australia – Negotiations underway to bring extra slots to The Star

Sydney’s The Star Casino has confirmed it is now in negotiations with the NSW Government to bring extra slot machines to its gaming floor. It said: “The Star Entertainment Group advises that the NSW Government has agreed to commence formal negotiations with The Star in relation to its proposal to increase the number of gaming…

Australia – The Star to find out if can add 1,000 new pokie machines to its mix

The New South Wales government is to consider allowing Star Sydney to operate an additional 1,000 poker machines as part of a proposal to transfer licences from under-performing machines in other areas of the state. There are currently 96,000 poker machines across 4,000 venues in New South Wales with The Star accounting for 1,500 of…

Australia – The Star Sydney forced to shut for fourth time following latest COVID outbreak

Star Entertainment has confirmed that it has been forced to suspended almost all operations for at least the next seven days at its The Star Sydney property following new advise announced by the New South Wales government to battle COVID-19. Matt Bekier, Managing Director and Chief Executive Officer of The Star Entertainment Group , said:…

Australia – The Star launches bid to merge with Australian rival Crown

Somewhat out of the blue, the Star Entertainment Group has submitted a conditional, non-binding, indicative proposal to merge with Crown Resorts at a nil-premium share exchange ratio of 2.68 The Star shares per Crown share. Based on recent trading values of The Star and the substantial value that would be unlocked by a merger, The…

Australia – Greentube launches enhanced B2B social casino with The Star

Greentube, the Novomatic Interactive division, has launched Greentube Pro 2.0, a boosted version of its B2B social casino solution. The Star Entertainment Group is the first client to go live with Greentube Pro 2.0 after rolling-out the solution in Australia. All existing clients are expected to have migrated to the new solution by the end…