Earlier this week, Star published its quarterly report, which precedes audited financial accounts due next month. The published report states that it made a loss before interest, tax, depreciation and amortisation costs of $27 million for the quarter to June 30, on revenue of $270 million. ASIC has accused them of not paying sufficient attention to the risks of money laundering and criminal association that have financially crippled the casino operator with massive fines and gambling restrictions on its pokies.
Notification of ceasing to be a substantial shareholder – JPMorgan The Star Entertainment Group Limited is an Australia-based company that provides gaming, entertainment and hospitality services. The Company operates The Star Sydney (Sydney) and The Star Gold Coast (Gold Coast). The Company’s segments include Sydney, Gold Coast, and The Star Brisbane. The Sydney segment consists of The Star Sydney's casino operations, including hotels, restaurants, bars and other entertainment facilities.