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Star Entertainment’s licence to operate its flagship Sydney casino will remain suspended until at least September 30, according to a decision by the New South Wales Independent Casino Commission (NICC). The commission stated that while the company has shown steady progress in its remediation efforts, financial instability continues to raise concerns.
NICC chief commissioner Philip Crawford acknowledged that Star has made improvements in addressing regulatory issues, but emphasized that ongoing uncertainty around the company’s financial health has slowed overall progress. As a result, the licence suspension will remain in place for now.
Nick Weeks, the NICC-appointed manager, will continue to oversee operations at Star Sydney during this period. His continued role ensures regulatory compliance and operational integrity as the company navigates its path toward reinstatement.
This development poses potential setbacks for Star Entertainment’s debt refinancing plans. Earlier this month, the embattled casino operator opened its financials to Salter Brothers, a private investment group, for a proposed refinancing deal worth up to A$940 million (approximately $591 million). The extension of the suspension could complicate due diligence efforts, raising further uncertainty about the company’s recovery trajectory.
Star Entertainment, which has been under intense regulatory scrutiny following previous compliance failures, did not immediately comment on the NICC’s decision or its impact on refinancing efforts.
The extended licence suspension underscores ongoing challenges for Australia’s casino sector, as regulatory bodies tighten oversight and demand stronger compliance frameworks. For Star, regaining its Sydney licence remains critical to restoring investor confidence and stabilizing its operations amid ongoing financial pressures.
