Star Entertainment Group

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The Star Entertainment Group Limited
TypePublic
ASX: SGR
IndustryGambling, Tourism
Founded2011; 11 years ago (2011)
HeadquartersBrisbane, Australia
Area served
Australia
Key people
John O'Neill (Chairman)
Matt Bekier (CEO)
RevenueIncrease A$2.3 billion
Number of employees
8,000
Divisions
WebsiteStarEntertainmentGroup.com.au

The Star Entertainment Group Limited is an Australian gambling and entertainment company.[1] The company was formerly known as Echo Entertainment.[2]

Properties[]

The Star Entertainment owns and operates the Treasury Casino & Hotel,[3] The Star Gold Coast and The Star, Sydney.[4] Star Entertainment holds two out of Queensland's four casino operation licenses.[5]

The group also manages the Gold Coast Convention & Exhibition Centre on behalf of the Queensland Government.[6]

Queen's Wharf Brisbane[]

Construction site in August 2020
Demolition of government buildings in George Street, August 2017

The Queensland Government announced on 20 July 2015 that Echo Entertainment as 50% joint venture partner of the Destination Brisbane Consortium was the preferred tenderer for Queen's Wharf, Brisbane, beating rival Crown Resorts. Echo has two Hong-Kong based joint venture partners Chow Tai Fook Enterprises and Far East Consortium. The two joint venture partners will each contribute 25% of the capital to develop the integrated resort and will also jointly pay for the apartment and broader Queen's Wharf developments.

Controversy[]

In 2021 a joint report by the Sydney Morning Herald the Age, and the television program 60 Minutes, found that Star management had been warned that it's anti-money laundering controls were inadequate and that between 2014 and 2021 Star had attempted to recruit high rollers who were allegedly linked to criminal or foreign-influence activities. In response to the report Star stated that it was " "concerned by a number of assertions within the media reports that it considers misleading." And also stated that it would take steps to address the allegations with Australian authorities.[7][8] Following the report shareholders began forming a class action lawsuit against Star and inquiries were launched by Queensland's, Western Australia's, Victoria's, and New South Wales's state gaming regulators.[9][10]

See also[]

References[]

  1. ^ "Archived copy". Archived from the original on 1 June 2012. Retrieved 8 June 2012.{{cite web}}: CS1 maint: archived copy as title (link)
  2. ^ Moore, Tony (16 November 2016). "Queensland Queen's Wharf mega casino deal guarantees $1 billion for state". Sydney Morning Herald. Retrieved 22 November 2021.
  3. ^ Moore, Tony (23 January 2015). "Brisbane casino to bring thousands of new jobs". Brisbane Times.
  4. ^ http://www.smh.com.au/business/echo-entertainment-groups-star-performer-set-for-makeover-20150204-135gua.html[dead link]
  5. ^ Read, Cloe (29 November 2021). "Bridge over Brisbane River takes shape even as casino owner may be in troubled water". Brisbane Times. Retrieved 1 December 2021.
  6. ^ http://www.gccec.com.au/echo-entertainment-group.html[dead link]
  7. ^ "Star Entertainment: Shares fall on money laundering claim". BBC News. 11 October 2021. Retrieved 28 November 2021.
  8. ^ "Star Tumbles 23% on Report It Enabled Suspected Laundering". www.bloomberg.com. Retrieved 29 November 2021.
  9. ^ "Star Casino faces public hearings into ability to counter infiltration by organised crime". ABC News. 19 October 2021. Retrieved 28 November 2021.
  10. ^ Raphael, Angie (18 October 2021). "Star class action after share price plunge". news.com.au — Australia’s leading news site. Retrieved 28 November 2021.

External links[]

Media related to Star Entertainment Group at Wikimedia Commons


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