The embattled group has again been found to be unsuitable to hold a licence and it also faces a class action by investors over its plummeting share price.
Embattled casino operator The Star Entertainment Group is chasing hundreds of millions of dollars in extra funding from investors as it works to stave off financial collapse.
The company was reportedly sounding out investors for a $300 million raising last week via a convertibles notes issue before the final report of Adam Bell SC’s second inquiry into its Sydney casino on Friday found it was still unsuitable to hold a licence. The report stopped short of recommending the licence be revoked.
Star Entertainment chief executive Steve McCann, who previously led Crown Resorts through to its takeover by US private equity group Blackstone, joined the company in June.
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