The Star Entertainment Group is an ASX-listed Australian casino operator running The Star Sydney, The Star Gold Coast and its interest in the Queen's Wharf resort in Brisbane, which opened in 2024. Regulatory inquiries in New South Wales and Queensland from 2022 found it unsuitable to hold its licences, leading to supervision, fines and remediation, and the group has faced financial distress through 2024 and 2025, recapitalised with investment from its Hong Kong joint-venture partners and a US casino operator. It employs several thousand people across its properties.
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The Star Entertainment Group has accepted its A$260 million AUSTRAC penalty and says the instalments will not threaten its survival, but the ruling has triggered a review event under its WhiteHawk loan. Its largest shareholder, Bally's, says the decision does not render it insolvent.
Australia's Federal Court has ordered two Star Entertainment Group companies to pay A$260 million, about $182 million, for anti-money laundering failures, well short of what AUSTRAC wanted but far above what Star said it could bear. The first instalment falls due within 28 days, and the group held A$239 million in cash at the end of September.
The Star Entertainment Group made an EBITDA profit of A$12 million in the September quarter, and its chair told shareholders the way it treats VIP customers is its biggest problem. The numbers land as the group waits on a Federal Court penalty in AUSTRAC's money laundering case.
Early this month the chief commissioner told MPs the licence could come back in September. Instead the manager's term has been extended to June 2027, with the NICC citing "serious" new allegations about governance, leadership and culture.
The 90-day suspension imposed in December 2022 was due to take effect on 30 September. Queensland has pushed it back a sixth time, citing "significant progress" but unfinished remediation, and kept the special manager in place until the end of March.
A $400m term loan and a $160m delayed draw fund pre-construction on the $4bn Ferry Point project and give the group liquidity, from the private credit firm that also refinanced The Star in June.
The Star Entertainment Group is set to ax its corporate head office and eliminate hundreds of roles in a radical decentralisation plan. New CEO Bruce Mathieson Jr told staff the current structure added complexity rather than value. The move follows a A$300 million rescue deal by Bally’s and the Mathieson family aimed at satisfying regulators and securing the company’s future.
The fight for survival at embattled Australian casino giant The Star Entertainment Group has suffered a major setback, after the company confirmed it has
Embattled Australian casino operator The Star Entertainment Group has reportedly warned that a proposed A$400 million (approximately US$272 million) fine from
Australian challenger brand Betr appears to be leading the way in its bid to acquire wagering operator PointsBet. In a significant development, PointsBet's