Star Entertainment Group was delisted days after a damning report from the New South Wales casino regulator.
Australia's largest publicly listed casino operator has been temporarily suspended from the country's stock exchange after failing to file its annual financial results.
Star Entertainment Group was delisted from the Australian Securities Exchange on Monday as the group faces scrutiny over a series of scandals involving criminal activity and unethical conduct at its casinos.
It is unclear when the troubled casino operator, which has locations in Sydney, Brisbane and the Gold Coast, will resume operations.
Star Entertainment suspended trading in its shares on Friday after a state-level casino regulator issued a damning report accusing the group of failing to clean up a culture of money laundering and fraud.
The NSW Independent Casino Commission (NICC) found the casino operator had not done enough to address “cultural and governance concerns” raised in a 2022 inquiry that found it unfit to hold a licence.
“It has recently turned its attention to addressing challenges that should have been prioritised earlier,” said NICC Chief Commissioner Philip Crawford.
“It was unclear whether The Star would be able to operate with less oversight when it engaged in past conduct with its license still suspended.”
In April, the casino regulator ruled that Star Entertainment rival Crown Resorts was eligible for a license after addressing compliance issues exposed in a 2021 investigation that revealed links to overseas criminal syndicates.
