The company was fined $100 million by both states with a new manager appointed to oversee Star's operations to regulated standards. Its Sydney casino licence was suspended while in Queensland, a 90-day suspension has been deferred to December 2023. The casino operator burnt through $107 million of its available cash in the December quarter, which should be its busiest trading period of the year. Star Casino shares face an uphill battle as the company struggles with regulatory fines, alfaqeerbroadcast.com lightning-fast cash burn, and declining financial performance.
Exchange operator ASX automatically suspended shares in Star on Monday morning after the casino operator missed Friday's deadline for issuing its earnings update for the first half of the financial year. Notification of substantial shareholding – Commonwealth Bank of Australia Notification of substantial shareholding – The Goldman Sachs Group Notification of change in substantial shareholding (Cooper Investors) Notification of change in substantial shareholding (State Street) Notification of change in substantial shareholdings – CTF & FEC