HomeBusinessStar Entertainment Group Faces Crisis Amid Second Casino Inquiry

Star Entertainment Group Faces Crisis Amid Second Casino Inquiry

Australia’s Largest Casino Group in Trouble Again

Star Entertainment Group, once a symbol of sophistication, is now battling to save its reputation after a second inquiry deemed it unfit to hold a casino license. 

Led by barrister Adam Bell SC, the inquiry criticized the group for its slow reforms and failure to fix deep-rooted cultural issues, including fraud and breaches. Star’s financial stability is also at risk, with declining revenues and tighter regulations.

The inquiry came just before the release of Star’s financial results, expected to show severe financial trouble. The newly opened Brisbane casino, a $3.8 billion project, has added to the group’s woes due to high construction costs.

Despite these challenges, Star received a lifeline with the appointment of Steve McCann, a respected business leader, as CEO. McCann, who successfully turned around Crown Resorts, faces multiple investigations and must secure new investments to stabilize the company.

The report also revealed that Star’s former management team engaged in a combative approach, even planning a class action against regulators. The future of Star Entertainment remains uncertain, but hopes are pinned on McCann’s leadership to navigate this crisis.

Source abc.net

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