Star Entertainment Group

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

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

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
  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. "About the Centre - Echo - GCCEC". www.gccec.com.au. Archived from the original on 24 March 2013.
  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.

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