Star told investors it was losing large sums of money from customers visiting VIP areas, where trading is down.
Already a subscriber?An exodus of high-rollers tipped embattled casino operator Star Entertainment to a $49.7 million loss in the third quarter as it braces for the outcome of a second public inquiry into its Sydney operation.
Conducted by Adam Bell SC, the hearings will help determine whether Star has reformed enough to regain control of its Sydney casino licence. That figure – up almost $2 million from the same time last year – is related to investment in the risk, controls and transformation teams. Star, which sought refinancing twice last year, is still facing a multimillion-dollar penalty over allegations by AUSTRAC that it allowed 117 high-risk VIP patrons to churn billions of dollars of dirty cash through its casinos for years.
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