In a critical development for Australian casino operator Star Entertainment, trading of its shares was temporarily halted on the ASX on February 28, 2025, following indications that the company’s board is struggling to approve its half-year financial results. The trading halt was requested by Star, with the ASX agreeing to suspend trades as the company assesses its finances amidst ongoing scrutiny and talks about its accounting practices. According to sources within the company, the board has not yet finalized its half-year report, anticipated to reveal the company’s financial position amid challenges stemming from regulatory pressures and governance issues. The situation raises significant concerns about the future of Star, which has been under the microscope following allegations of misconduct and inadequate responses to its responsibilities under gaming regulations. Star’s previous disclosures included a substantial $1.4 billion write-down in 2023 and ongoing investigations from various regulatory bodies, including the NSW Independent Liquor and Gaming Authority. An unnamed source stated, ‘The board is prioritizing getting it right over meeting deadlines.’ The halt in trading has prompted speculation among analysts regarding the potential impact on Star’s stock price and investor confidence. As the company aims to resolve its accounting issues, stakeholders are watching closely for any signs of progress or further setbacks.
Star Entertainment Trading Halted as Financial Results Remain Unapproved
