Australia’s second-largest casino operator, Star Entertainment Group Ltd, recently revealed that it intends to negotiate with the New South Wales government for an increase in the permitted number of gaming machines at its Sydney property.
This announcement coincides with the torrid fortunes that the operator’s biggest rival, Crown Resorts Ltd finds itself embroiled in. Crown’s flagship Sydney operation has been the subject of numerous allegations of money laundering and governance transgression.
Earlier in the year, an industry regulator declared Crown unsuitable to hold a gambling licence for its Sydney resort unless sweeping changes to its board and culture were urgently implemented.
Star released an official statement, saying that its Sydney venue is currently allowed 1500 gaming machines on its premises. The operator maintained that this was far less than the number allowed at Crown’s casinos in Perth and Melbourne.
Star, which recently withdrew its A$9 billion ($6.53 billion) buyout proposal for Crown, further stated that It would enter into negotiations with the New South Wales government shortly.
