Star Entertainment’s Fiscal 2024 Results

(Reuters) – Australia’s Star Entertainment is working with various financial advisers to finalize its fiscal 2024 results, as the embattled casino operator remains under scrutiny for governance and cultural issues.

The company stated that it is assessing its financial and liquidity position and has not yet finalized when it will release its annual results. The advisers have not been named.

Star’s shares have been suspended from trading for not lodging its financial results by the due date of September 2.

The company’s future is uncertain following an inquiry that revealed ongoing issues related to its leadership and culture, rendering it unfit to operate its Sydney casino.

In October 2022, Star’s license to operate the Sydney casino was suspended due to significant anti-money laundering and counter-terrorism failures.

Last week, coinciding with Star’s scheduled results report, a lawyer appointed by the NSW Independent Casino Commission (NICC) noted that Star has been slow to address the governance and cultural issues highlighted in their 2022 report.