The NSW and Queensland governments are not offering any reprieve on roughly $200 million in taxes they stand to collect from the group. Star is still to pay the remaining $10m of a $15m fine levied by the NSW regulator, while it awaits the final determination on the size of the fine from money-laundering regulator AUSTRAC, which Morningstar estimates at $330m. Star’s quarterly activities report show a parlous financial state, with revenues cratering across its casinos. Star’s Sydney license has been suspended since 2022 when a regulatory inquiry concluded it had allowed itself to be used by criminal gangs to launder money in private high-roller junket rooms.
Almost A$4 billion (S$3.4 billion) has been wiped from Star’s market capitalisation since late 2021, leaving the company valued at just A$387 million. Finally, you can also treat yourself at The Star with a variety of gifts available through the site’s luxury shopping destination, with big-name brands such as Gucci, Calvin Klein and Chanel all available within the atrium on ground level. You can also head to The Star for a couple of more relaxed games, such as Bingo, which is held on Tuesdays and Thursdays at 11am, 2pm and 5pm. A demerger of the Echo Entertainment Group Limited from Tabcorp was implemented in June 2011, with the former set to be in charge of Tabcorp’s hotel and casino division in order to allow both companies to flourish. In 2015, the Echo Entertainment Group was re-branded as the Star Entertainment Group. Star successfully argued for the cash limit to stay at $5000 for 12 more months and for cardless play to be delayed from August until October 2024. The NSW Independent Casino Commission then ordered a second inquiry into Star last year, resulting in a $15 million fine for compliance breaches.