The Star Gold Coast - Regulatory Update
| Stock | The Star Entertainment Group Ltd (SGR.ASX) |
|---|---|
| Release Time | 27 Mar 2025, 6:15 p.m. |
| Price Sensitive | Yes |
The Star Gold Coast - Regulatory Update
- Deferral of The Star Gold Coast's casino licence suspension until 30 September 2025
- Extension of the Special Manager's appointment to 30 September 2025 to provide independent oversight
- Continued progress towards remediation measures under the agreement
The Star Entertainment Group Limited (ASX: SGR) has been advised by the Queensland Attorney General and Minister for Justice and Integrity that the Crisafulli Government has deferred the suspension of The Star Gold Coast's casino licence until 30 September 2025. The Star also notes that the Special Manager's appointment for The Star Gold Coast casino has been extended to 30 September 2025. The Group confirms that the External Advisor's appointment for The Star Brisbane has also been extended to 30 September 2025. The deferral and extensions consider the progress made towards remediation measures, as outlined in the February report prepared by the Special Manager, Mr Nicholas Weeks. Mr Weeks acknowledged the impact of The Star's recent challenges on its ability to make material headway on some key measures within the set timeframe. The Attorney-General stated that it was important for the public to have confidence in The Star and the Government would continue to assess its remediation progress during the six-month deferral period. The Star will remain under the close supervision of Mr Weeks, who has been extended in the role of Special Manager to the end of September 2025.