The Star Entertainment Group (ASX:SGR) confirmed that its flagship Sydney casino licence will remain suspended for the foreseeable future.
The announcement follows a formal notification from the NSW Independent Casino Commission, which advised the embattled operator that the current suspension of The Star Sydney’s licence will stay in effect at this time.
The regulatory move underscores the ongoing scrutiny of the group's operations and its continued struggle to prove suitability following a series of damning inquiries into its corporate governance and anti-money laundering protocols.
As a direct consequence of the decision, the NICC has extended the appointment of the external Manager for the Sydney site until Sept. 30, unless the commission chooses to terminate the arrangement earlier.
The Star noted that this timeframe is designed to create regulatory consistency across its portfolio, aligning the Sydney management term with the current appointments of the Special Manager at The Star Gold Coast and the External Advisor for The Star Brisbane.
The extension of outside oversight indicates that regulators remain unconvinced that the company has achieved the necessary level of internal reform.
At the time of reporting, The Star Entertainment's share price was $0.115.