The Star Gold Coast casino has received a temporary reprieve as Queensland officials defer the planned 90-day gaming license suspension that was set to begin December 20, 2024. The government will make a final decision by March 31, 2025, on whether to proceed with the suspension or lift it entirely.

Queensland Attorney General Deb Frecklington emphasized that this deferment will allow more time to evaluate The Star's remedial actions addressing previous regulatory failures. The casino faces scrutiny following similar investigations at its Sydney property, where regulators found evidence of money laundering and criminal activity.

The postponement mirrors events in New South Wales, where The Star Sydney avoided license suspension by paying an AU$15 million fine, following an earlier AU$100 million penalty in 2022.

Financial Performance Breakdown:

• Sydney Property

  • Revenue: AU$877.5 million
  • Operating expenses: AU$578.5 million
  • EBITDA: AU$51.8 million

• Gold Coast Property

  • Revenue: AU$456.1 million
  • Operating expenses: AU$307.3 million
  • EBITDA: AU$71.3 million

• Brisbane Property

  • Revenue: AU$344.2 million
  • Operating expenses: AU$205.2 million
  • EBITDA: AU$51.6 million

Overall company EBITDA declined 26% from AU$237.5 million in FY2022 to AU$174.7 million in FY2024, with share values dropping by approximately AU67 cents. The company continues to face challenges from increased regulatory oversight and the departure of high-roller clientele to competing markets.

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