The casino group has confirmed its chief executive officer Robbie Cooke and chief financial officer Christina Katsibouba have both resigned.
The gambling giant’s result was announced one week late after it was blindsided by a surprise inquiry,which could mean its flagship Pyrmont casino may shut down.
Adverse findings from a new inquiry by the regulator could mean the end of The Star casino’s operations in Sydney. But would that be so bad?
A second inquiry is to be held into Sydney’s Star Casino. Surprisingly,unlike the first inquiry in 2022,the next round of hearings will not be open to the public.
The casino operator has indefinitely delayed the release of its half-yearly results after it was blindsided by the NSW regulator’s decision to launch a second probe into its operations.
Whichever way you spin it,Monday’s announcement of a second inquiry into the Pyrmont entertainment venue is a real threat to its future.
While the past three years has produced a long roll call of failings from the casino sector,states were paralysed into a position of attempted reform.
There will be another inquiry into Sydney’s Star casino,just a year after the first one found conditions existing that led to money-laundering and fraud.
The casino will be hit with financial penalties if it does not keep up its end of a deal signed with the NSW government to scrap a potentially fatal tax hike.
Crown has finalised its investigation into a report its boss had intervened to allow patrons who had been escorted from Crown Melbourne to re-enter and found he did not break any laws.
Crown Sydney has reopened its revamped Mahogany Room hoping to attract back punters,as casinos face financial pressure and lingering questions over their future business models.