The Star Entertainment Group Limited (ASX: SGR) has received correspondence from the New South Wales Independent Casino Commission (NICC) regarding the potential extension of Mr. Nicholas Weeks' tenure as the Manager of the Sydney Casino. Initially appointed in October 2022 and subsequently extended until January 19, 2023, the NICC now seeks to prolong the Manager's appointment until June 30, 2024, subject to the NICC's prerogative for early termination. This intended extension aims to grant The Star additional time to showcase compliance with necessary remedial measures, a prerequisite for the resumption of gaming activities in alignment with the provisions of the Sydney casino license. The NICC has underlined that this forthcoming extension will mark the conclusive term for the Manager's role.
Company continues its active engagement with the NICC and the Manager to finalize a comprehensive remediation plan pertinent to the Sydney Casino, which awaits approval within New South Wales. This plan also encompasses the resolution of other pertinent matters.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
