Star Entertainment chief executive Steve McCann says his focus will turn to improving earnings after the gaming group clinched a last-minute rescue deal, allowing it to finally publish long-delayed accounts that showed the company lost more than $300 million in just six months.
The half-year accounts, originally scheduled for release in February, showed a steep decline in revenues, which Star attributed to the introduction of stricter payment requirements at its Sydney casino. The rules, which started in October, force patrons to use a pre-paid card, which makes gambling more difficult and reduces the risk of money laundering.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
