At the state level, both of its existing casino licences are suspended and its properties are under the supervision of outside manager Nicolas Weeks. The company has already paid hundreds of millions in state fines and has recycled most of its board and C-suite. The agency is pushing for a $400 million fine, which would be slightly less than the $450 million fellow operator Crown Resorts paid in 2023 for similar violations.
He has been stalking Star since September last year but only showed his hand this week when his stake tipped over the 5 per cent notification threshold. On Tuesday, a fresh notice showed his shareholding had increased from 5.5 per cent to 6.52 per cent. The Queensland government had been considering issuing $60 million in tax relief to the struggling business, blackcoin.co while NSW has already delayed tax increases until the end of this decade.
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