The Star, Sydney Wikipedia

It has burned through so much cash that despite raising more than A$2 billion in equity and debt since the start of 2023, it warned last week that it had just A$79 million left – barely enough to see it through this quarter. The trouble started in October 2021, when the Sydney Morning Herald reported Star enabled suspected money laundering, organised crime and fraud at its casinos for years. SYDNEY – Australia’s biggest listed casino operator, Star Entertainment Group, once had it all. The previous Queensland government this year waved through CTFE as a suitable casino operator, declaring the evidence did not substantiate that the company had deliberately concealed its relationship with jailed “junket king” Alvin Chau. “We need to make sure that we understand what the revised revenue model is for our business across gaming and non-gaming over time,” he said.
In a casino setting, compliance breaches can have serious consequences for the community, and the Bell Report illustrated how quickly weak controls can lead to criminal infiltration and gambling harm,” Crawford said. “The NICC understands the many challenges The Star is facing and will continue to closely monitor The Star’s progress in proving it is capable of regaining its casino license.” Crawford said the NICC-appointed manager, Nick Weeks, will continue to oversee The Star Sydney until at least March 2025, when another review of the casino’s business is conducted. Crawford detailed that The Star continues to have numerous shortcomings in its governance, regulatory compliance, technology operations, and risk management. After the 2022 inquiry, Star was allowed to continue operating the Sydney casino, but under a government-appointed manager. Star was ordered to undergo many remedial measures to bring the casino into regulatory compliance and was fined AU$100 million.
It disregarded independent audits of its money laundering systems, misled banks and helped Chinese high rollers to disguise their gambling expenses. Ben Lee, managing partner of IGamiX Management and Consulting, said the NSW government’s lopsided approach to gambling regulation suggested cashless gaming was being used as a punishment rather than a wholesale attempt to prevent money laundering. The Star best Aussie casino poker rooms 2026, part of The Star Entertainment Group, is a prime destination for those seeking entertainment and gaming in Australia. Located in Sydney, Brisbane, and the Gold Coast, The Star Casinos are renowned for their wide range of gaming options, including table free slot games for beginners 2026 like blackjack, poker, and roulette, as well as a plethora of electronic gaming machines. Each location also offers Star Casino Gold Coast accommodations, diverse dining experiences, and access to sports bars, nightclubs, and theaters, catering to a broad spectrum of tastes and preferences.
It partners with leading gaming software providers to offer a diverse portfolio of games, ensuring high-quality graphics, sound, and reliability. These technologies also enable a smooth, intuitive user interface across both its physical machines and best online casinos 2026 platforms. The Bally’s-led bailout came on the very day cash-strapped Star was predicted to run out of money completely as it struggled with a dire liquidity crunch. Shares in struggling casino giant Star Entertainment have plummeted on Friday after a brief trading halt was lifted, as the company searches for a financial lifeline to avoid collapsing.
While assets like hotels and carparks could be sold to raise cash, voluntary administration and a shareholder wipeout remain a “high likelihood”, said Morgans Financial analyst Leo Partridge. Regulatory inquiries have found it unsuitable to operate its Sydney and Queensland casinos, placing them under government supervision. Star’s future is still in doubt as revenue from its casino business shrinks amid rising costs and it struggles to find funding from either banks or investors. McCann and Star chair Anne Ward laid out the many challenges the business is facing as it attempts to win the confidence of regulators – and regain suitability to hold its VegasNow Paysafecard casino licences – while keeping the business afloat. McCann said the big drop in gambling revenue may partly reflect the initial shock of carded plays’ introduction rather than a permanent impact. But he said the company is still getting to grips with what its business now looks like. Gambling or online gambling is illegal or restricted in a number of jurisdictions around the world.
Casino licences for the Treasury Brisbane and the Star Gold Coast will be suspended for 90 days, with this action deferred until December 1, 2023. The deferment gives Star an opportunity to remediate its management and operations. In addition to these issues with their properties in Queensland, in New South Wales, The Star, Sydney has been under government supervision.
It has undergone a huge development program, particularly over the last three years, to significantly expand its facilities for its patrons. The sprawing establishment is recognised as the second largest land-based NT casino guide in Australia. The banks will not release another $100 million in debt unless Star can raise more money. The NSW and Queensland governments are not offering any reprieve on roughly $200 million in taxes they stand to collect from the group.
The Star Sydney blends luxury hotel stays, innovative dining, competitive gaming, and entertainment excellence into a single iconic venue on Darling Harbour. As a cornerstone of city tourism and nightlife, The Star delivers a memorable Australian casino games list casino experience—whether for high-stakes play, gourmet indulgence, or evening events. Its reputation for fairness, safety, and relentless innovation keeps guests returning, making it a must-visit destination for anyone exploring Sydney’s leisure scene.