The legal compliance inquiry announced on 19 February will run for 15 weeks, with a final report due by 31 May. Adam Bell SC, who led the first inquiry, will head the investigation into how Star has implemented previous recommendations. In response to the announcement, Star requested a trading halt on the ASX and delayed reporting its first-half 2024 financial year results.
Star has welcomed the inquiry as an “objective forum” to demonstrate its commitment to returning to licensing suitability in NSW. The operator plans to participate in a transparent manner and dedicate necessary resources to meet all inquiry requirements. The inquiry will focus on areas such as risk management culture, financial resources, and regulatory compliance.
The impact of regulatory decisions has significantly affected Star’s financial performance, with a net loss of AU$2.4bn reported for the 2023 financial year. This includes significant items related to fines and impairment costs. The delayed results announcement will reveal the impact on performance for the most recent H1 period.
