Star Entertainment Group has announced plans to lay off approximately 500 full-time employees while putting on hold employee incentives for the fiscal year.
Star Entertainment Group has forecasted a possible loss of up to $1.6 billion if the New South Wales government executes its planned tax increases.
Australian law firm Phi Finney McDonald is going head-to-head with Star Entertainment Group in a securities class action lawsuit served in the Supreme Court of Victoria.
The NSW Independent Casino Commission (NICC) has told The Star Entertainment Group – owner and operator of The Star Sydney – it will not endorse a company-appointed independent monitor or any remediation efforts it might propose.
The Star Entertainment Group recently announced the appointment of Deborah Page and Toni Thornton as non-executive directors and board members of the company.
Despite the multiple allegations of money laundering, fraud, organised crime links and other assorted crimes aired in inquiries into Crown Resorts and Star Entertainment, none of the staff members, executives or board directors of either casino operator have yet to be indicted of any crime or wrongdoing.
A Singapore high roller took skipping payment to a whole new level last year, leaving The Gold Coast Star without paying a $43 million gambling debt.
Star Entertainment might not be interested in a second casino on the Gold Coast, but the gambling operator is one of three firms in the running for a proposed development in Cairns.