Australia’s biggest listed casino operator suspended from stock exchange
Al Jazeera
Star Entertainment Group delisted days after damning report by casino regulator in New South Wales.
Australia’s largest publicly traded casino operator has been temporarily suspended from the country’s stock exchange after failing to lodge its annual financial results.
Star Entertainment Group was delisted from the Australian Securities Exchange on Monday as the group faces scrutiny over a series of scandals related to criminal activity and unethical conduct at its casinos.
It is unclear when the embattled casino operator, which has venues in Sydney, Brisbane and the Gold Coast, will resume trading.
Star Entertainment halted trading of its shares on Friday after a state-level casino regulator issued a damning report accusing the group of failing to clean up a culture of money laundering and fraud.
The New South Wales Independent Casino Commission (NICC) found that the casino operator had not done enough to address “governance and cultural concerns” raised in a 2022 inquiry that found it unfit to hold a licence.
