SGR Stock Price and Chart ASX:SGR

A second inquiry last year uncovered several additional license breaches, including falsifying records. The PayID casino guide 2026 has been overseen by a government-appointed manager since the 2022 report. More than 8000 jobs are on the line, with the company running out of time and money to keep its casinos open. Star acknowledged via the ASX that its shares had been automatically suspended but did not update the market on the status of financing offers it expected to receive on Friday. Bell’s original report outlined anti-money laundering and social responsibility failings at The Star Sydney stretching back years. A year later, a report into Star Sydney’s progress found the OzWin casino loyalty rewards had implemented 22 of 30 recommended measures from the Bell report.
Salon 95 continued to operate even after then-Star CEO Matt Bekier told regulators his company had severed business links to Suncity. Star was deemed unfit to hold its NSW licence by the first Bell inquiry in 2022. Since then, Star Sydney has since been under the supervision of a state-appointed manager – Nick Weeks. Weeks’ term has been extended multiple times and currently runs through September. Each were in breach of Listing Rule 17.5 for not lodging the relevant periodic report by the due date.
New rules that would have restricted patrons to gambling $1000 in cash per day will not be introduced for another two years after lobbying from top Aussie casino games 2026 giants. This came as bad news with Star’s performance historically lagging behind Crown casino in Melbourne, with both revenue and earnings falling short of its competitor. This long history of underperformance continues despite Sydney being the country’s largest city and international gateway to Australia. “In the absence of one or more of those arrangements, there remains material uncertainty as to the group’s ability to continue as a going concern.” In an update to the stock exchange this morning, Star reported a loss for the second quarter — although not as bad a loss as the previous period, as it managed to cut costs. Earlier this week, Star published its quarterly report, which precedes audited financial accounts due next month.
Don’t worry, though – you’re not locked in, and can cancel your auto-renewal at any time before each ‘anniversary’ date without question or penalty. Sign Up for Take Stock Investment news, stock ideas, BetonRed mobile gaming apps and more, straight to your inbox. The stock has been crushed, but one major high limit slot bonuses broker thinks the worst may be behind it. In a report to clients, analyst Matt Ryan suggested that the Sydney casino property could be valued as low as $8 million, according to The Australian.
He said he would not like to see the company go into liquidation “for the people’s sake”. “To me, it has been a disaster dealing with the management of Star and I think … there is no doubt the board should be blamed for how bad it is,” he told ABC Radio Brisbane. “What we would want to see is the government work to make that process as quick as possible, while still ensuring that any new operator is compliant with the regulations and the legislation.” He said the government would also need to move quickly to approve a new operator should there be a sale. Mr Jones said in the event Star did go into administration the union would want the state governments to work quickly with the administrator and existing lenders to ensure the administration was funded and the doors stayed open.
The longer-term investment case is clouded by the threat of Crown Sydney, liquidity risk and tightening regulatory measures. This article explores the once monopolistic establishment and why we believe its trading over 50% below its fair value. Star Entertainment’s shares will remain suspended for at least another week as the casino operator’s chief executive, Steve McCann, tries to secure the last of a series of deals critical for the company to stay solvent.
The fact that it hasn’t suggests the board and its advisers are engaged in the same hunting expedition as everyone else – attempting to dig out details on this new mysterious investor who is now Star’s second-largest shareholder. In an update posted to the ASX on Monday night, Star has confirmed it has agreed to a $300 million rescue package with American casino and free coin gaming tips group, Bally’s. Star — which owns casinos in Brisbane, the Gold Coast and Sydney and employs more than 9,000 people — has warned for months it could fall into administration if a financier was not found.
A 2022 NSW inquiry found damning evidence of money laundering and counter-terrorism failings at the groups’ Sydney casino while a 2024 probe found more breaches. The casino group was once worth billions of dollars but has since been slapped with fines totalling more than $210 million and licence suspensions after money laundering allegations. The Star has been in a trading halt since the end of February after being unable to file its half-year financial report without a refinancing plan to save it. Owned by American financier Soo Kim, a self-described corporate fireman, Bally’s specializes in rescuing casinos from financial distress and turning them profitable. The group’s board will now seek for all shareholders to agree unanimously to the deal as it is within their best interests and will unlock the remaining Bally’s contribution, the ASX statement said. Star is exploring a possible injection of $100 million by its largest shareholder Bruce Mathieson and if this occurs, Bally’s contribution would drop to $200 million.