Macau-based businessman Wang Xing Chun acquired a 5.5% stake in Star Entertainment, reportedly, investing A$35m since September. A A$1.7m share purchase on Friday took him above the disclosure threshold, as the company reported cash reserves of A$79m at the end of December 2024.
Star’s reported investment and year-end cash reserves matter to stakeholders assessing its liquidity and financing outlook.
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Star Entertainment Group reported AU$12 million in EBITDA for the first quarter of FY27, compared with a AU$13 million loss a year earlier. Revenue at its Sydney and Gold Coast properties rose 5% year on year to AU$279 million, while group revenue increased 2% to AU$284 million. Chief executive Bruce Mathieson Jnr said trading improvement continued into October.
Star Entertainment Group could face a civil penalty of up to A$400 million, according to a media report. The Federal Court of Australia was expected to rule on the penalty’s size during the week of 26 October 2026.
A ruling on how large a civil penalty Star Entertainment Group will face could come from the Federal Court of Australia this week.
Star Entertainment Group reportedly became positive on both EBITDA and cash flow in the September 2026 quarter, its first such period in more than two years. The report does not provide the corresponding figures.
The New South Wales Independent Casino Commission said on 25 September that Nick Weeks’ term as manager of The Star Sydney had been extended by nine months, to 30 June 2027. The casino licence remains suspended, but the manager can continue operating its gaming facilities; the commission said the suspension could be lifted if remediation is properly embedded.
New South Wales’ Independent Casino Commission has extended the suspension of Star Entertainment’s Star Sydney casino licence until June 2027, citing continuing concerns about governance, leadership and remediation. The casino can continue operating under the suspension, while regulator-appointed manager Nick Weeks remains responsible for the venue until 30 June 2027.