In an update released via its website, the company informed investors that it had immediately brought the discrepancy in pay to the attention of both regulators and unions.
Star Casino Owner Admits Holding Back Millions in Staff Pay Since 2016The update goes on to explain that the company will begin to repay staff immediately for any losses suffered plus interest. Star Entertainment plans to take the hit on its upcoming financial results which could see first half losses jump to somewhere in the region of AUD$73 — $75 million (€45.5 — €46.6 million).
Star Casino Owner Admits Holding Back Millions in Staff Pay Since 2016“We apologise to any team member impacted by the payment shortfall and we are committed to doing the right thing by acting transparently. Our priority is to address this issue and to ensure that it doesn’t happen again.”
Star Entertainment, which is valued at AUD$3.4 billion (€2.1 billion), runs casinos in Sydney, Brisbane and on the Gold Coast and is currently under investigation by financial regulators following allegations of money laundering throughout its gambling business.
Image credit: llee_wu / CC BY-ND 2.0
