Star Entertainment working with advisers to finalise financial results, date not yet set
5:54 am Wednesday, September 04th, 2024
(Reuters) -Australia’s Star Entertainment is working with various financial advisers to finalise its fiscal 2024 results, it said on Wednesday, as the embattled casino operator remains under scrutiny for governance and cultural issues.
The company said it is looking into its financial and liquidity position and that it has not yet finalised when it will release its annual results. It did not name the advisers.
Its shares have been suspended from trading for not lodging its financial results by the due date of Sept. 2.
The company’s future hangs in the balance after an inquiry found the casino operator had been going through issues around its leadership and culture, and that it remains unfit to operate its Sydney casino.
Star’s licence to operate its Sydney casino was suspended in October 2022 in the fallout of major anti-money laundering and counter-terrorism failures.
Last week, on the day Star was to report results, a NSW Independent Casino Commission (NICC) appointed lawyer found Star has been slow to address the governance and cultural issues identified in their 2022 report.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Savio D’Souza)
