Star Entertainment Suspended from ASX Amid Ongoing Governance Probe
This suspension came after the company halted trading last Friday to assess the impact of a recent critical report on its governance and corporate culture.
Lawyer Adam Bell SC prepared the report, commissioned by the New South Wales Independent Casino Commission (NICC), as part of an ongoing investigation into The Star’s compliance with anti-money laundering and counter-terrorism financing laws.
The investigation began due to concerns that The Star had not adequately addressed the governance and cultural issues identified in Bell’s 2022 report.
NICC’s Chief Commissioner, Philip Crawford, expressed doubts about whether The Star could operate with less scrutiny while still exhibiting the behaviors that led to its license suspension.
Since October 2022, The Star’s license to operate its Sydney casino has been suspended.
Star Entertainment's Sydney License Suspension Casts Shadow Over Brisbane Expansion Plans
Just days after The Star Entertainment announced the opening of The Star Brisbane at Queen’s Wharf on August 29, 2024, this development emerged. The Brisbane project, a major effort by the company, involves an AU$3.6bn (US$2.45bn) investment.
The initial phase of the project launched the Neville Bonner Bridge, which connects South Bank to The Star Brisbane’s facilities.
