As of January 2025, AUSTRAC is currently calculating a fine for breaching counterterrorism and anti-money laundering laws. The company has deposited $150 million for the fine, and it is reported that shareholder Bruce Mathieson is refusing to pour more money into the company until a fine is agreed upon. Foster's departure came after he told the official inquiry his company was currently unsuitable to operate a casino in New South Wales. There was ‘not a scenario’ in which it would be able to run the property unsupervised. In late 2022, the Queensland Government also found Star unsuitable to hold its dual state casino licences.
If Australian casinos are struggling, it’s not because punters are giving up gambling. Whereas most of the gambling market recovered rapidly after the end of pandemic restrictions, casinos floundered. The post Star Casino share price slides as concerns over licence mount appeared first on The Motley Fool Australia. Before today's reports, Star Casino shares rallied over the past week. According to my colleague Mitch, this was due to speculation about potential takeover talks and the anticipated release of the Bell inquiry report. The Star Entertainment share price is under immense pressure as it wades through a number of challenges. Macquarie has reduced its price target for the Star Casino share price to just 24 cents per share.