The Star Sydney - Regulatory Update

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Stock The Star Entertainment Group Ltd (SGR.ASX)
Release Time 28 Mar 2025, 11:30 a.m.
Price Sensitive Yes
 The Star Sydney's casino licence suspension extended until September 2025
Key Points
  • The Star Sydney's casino licence will remain suspended until at least 30 September 2025
  • The NICC-appointed Manager, Mr Nick Weeks, will continue to have oversight of casino operations
  • The Star accepted the Manager should remain in place for a further six months while remediation continues
Full Summary

The Star Entertainment Group Limited (ASX: SGR) has been advised by the NSW Independent Casino Commission (NICC) that The Star Sydney's casino licence will remain suspended until at least 30 September 2025. The NICC-appointed Manager, Mr Nick Weeks, will also continue to have oversight of casino operations until that time. In its submissions, The Star accepted that the Manager should remain in place for a further six months while remediation continues and the company implements measures to secure its finances. NICC Chief Commissioner, Mr Philip Crawford, stated that the submissions demonstrated steady improvements in The Star's remediation, but uncertainty around the company's financial situation meant that progress was slow, and The Star's licence suspension should remain in effect. The extension of Mr Weeks' role as Manager will allow The Star to operate gaming facilities while its licence remains suspended. The NICC will reassess The Star Sydney's suitability to regain its casino licence in September 2025.