The Star manager term extended through 2027
- The NSW government extended manager Nick Weeks' term through 30 June 2027 to allow continued casino operations.
- Following the regulatory update, shares in The Star Entertainment Group fell to $0.13.
- The extension was made at the request of the NSW Independent Casino Commission due to ongoing governance concerns.
The NSW Minister for Gaming and Racing has amended the Casino Control Regulation 2019 to extend the manager term for The Star Sydney, operated by The Star Entertainment Group (ASX:SGR), until June 30, 2027.
The decision follows an initial casino licence suspension in 2022 that prompted the appointment of an independent manager to oversee daily gaming facilities.
"However, recent allegations regarding governance, leadership, and culture at the casino are serious and are being treated as such by both the manager and the NICC," said NICC Chief Commissioner Philip Crawford.
The regulator stated that the casino continues to await the outcome of civil proceedings initiated by AUSTRAC in the Federal Court while working to address leadership and cultural issues.
The NICC confirmed that the licence suspension can be lifted at any point if the company demonstrates that its governance remediation efforts are fully embedded.
Following the announcement, the The Star Entertainment Group share price was down at $0.13.
The casino operator has experienced ongoing regulatory scrutiny across its properties since independent reviews identified systemic compliance failures.
The NSW government maintains oversight of the venue to ensure compliance standards are met before restoring full operational autonomy to the casino owner.
