The Star Entertainment has placed a trading halt on its securities in the ASX with immediate effect. The trading halt will remain until either the commencement of normal trading on 2 September 2024 (Monday) or when the announcement is released to the market.
The trading halt was announced due to concerns about the group’s financial results, after the release of the final report by Adam Bell SC to the NSW Independent Casino Commission (NICC).
The final report by Bell was part of ongoing inquiries by the New South Wales Independent Casino Commission into the operator's compliance with anti-money laundering and counter-terrorism financing laws.
At the same time, The Star also announced the opening of The Star Brisbane at Queen’s Wharf on 29 August. This was the first phase of the multi-phase opening of the group’s AU$3.6bn (US$2.45bn) project in Brisbane, which commenced with the removal of barricades to the Neville Bonner Bridge.
The bridge would link the South Bank to The Star Brisbane’s dining runway, The Terrace (Level Four) and act as a thoroughfare to the greater Brisbane CBD.
The Star Brisbane CEO Daniel Finch said, “Once fully operational, The Star Brisbane and broader Queen’s Wharf precinct are expected to attract approximately 1.4 million additional visitors to Queensland each year as we quickly approach the 2032 Brisbane Games.”
The Brisbane Economic Development Agency (BEDA) CEO Anthony Ryan said, "The Queen’s Wharf precinct is a game-changer that will transform Brisbane’s skyline and supercharge the region’s $10.6bn visitor economy.”
Earlier, Star Entertainment had temporarily closed its Treasury Brisbane Casino to prepare for its Star Brisbane launch.
