Star takes another hit as shares suspended from trading

[Pelican Press 0]

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Star takes another hit as shares suspended from trading

Shares in Star Entertainment have been temporarily suspended from trading on the ASX after the casino operator ******* to lodge its financial results on time.

The company was set to post its earnings report on Friday but held off after receiving a copy of the NSW Independent Casino Commission’s second Bell Report that morning.

That report described Star’s previous management as “dysfunctional” and said the casino was still unsuitable to hold a casino licence.

While it did not recommend the casino be shut down, the report was yet another ***** for the company which is facing regulatory attacks in NSW and Queensland.

Companies that end their financial year on June 30, as most do, are required to file their financial results by the end of August.

Five other companies along with Star had their shares temporarily suspended from trading after failing to lodge reports.

They were Austral Gold, Etherstack, Mosaic Brands, Sprintex and Wide Open Agriculture.

Mosiac, the struggling company that owns womenswear brands Noni B, Katies, Autograph and more, said on Friday it needed to resolve a number of matters prior to the finalisation of its results and anticipated lodging them by the end of September.

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