Troubled Australian casino operator The Star Entertainment Group is to engage new cost and restructuring initiatives as the business warns that it is experiencing a significant and rapid deterioration in operating conditions.
Star, which has been the target of multiple parliamentary inquiries into misconduct, said that it intends to restructure due to the compounding impact of regulatory operating conditions and exclusions, which, when combined with an emerging weakness in consumer spending, has led to this adverse environment.
The business also said that its Star Sydney casino representing the largest single source of revenue for the group continues to operate in an uneven competitive environment due to the impact of ending its junket…
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