SYDNEY—Troubled resort and casino operator Star Entertainment was temporarily delisted from the Australian Securities Exchange on Monday after failing to post its annual financial results.
The measure—which is usually temporary—comes as the firm tries to recover from a series of scandals over lax safeguards against money laundering.
The Sydney-based stock market said Star was “suspended from quotation” for “not lodging the relevant periodic report by the due date”. The firm failed to present financial year annual results on Aug. 30.
Trading in Star shares was halted on Friday after a regulator said it was still “unsuitable” to hold a casino license.
The New South Wales Independent Casino Commission earlier published a scathing report about the firm’s casino operations, saying it had not done enough to rectify a culture that allowed serious criminal infiltration.
“The Star entities are presently falling short of what is required for suitability,” the latest in a string of watchdog investigations reported. AFP
