The ailing casino operator is a step closer to finally releasing its financial results, which has been delayed for almost one month while its new boss scrambled to secure a way to keep operating.
Star Entertainment Group has finally secured a multimillion-dollar lifeline as it prepares to unveil a dismal set of numbers for the 2024 financial year, almost a month after the end of reporting season.
The battered business operates three casinos in Queensland and NSW and has been stung by a combination of poor trading conditions, increased costs and looming remediation penalties since it was disgraced for extensive money laundering and counterterrorism failings in 2021. The casino operator reported a $2.44 billion loss in 2023, with former chief executive officer Robbie Cooke claiming at the time that the worst of its horror two years –– were behind it. However, a second inquiry into its culture and a multi-million dollar cost blow out of its new joint-venture in Queensland forced the struggling business further into the red for the 12 months to June 30.
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