Star is the largest publicly traded casino operator in Australia. Star Entertainment has grappled with a severe liquidity crisis over the past two years, reporting massive losses – including AU$1.7 billion in the 2023‑24 financial year, and AU$2.44 billion in 2022‑23. The vote came after Star chairman Anne Ward told shareholders at a general meeting in Sydney there was no alternative if the business was to avert financial collapse. Earlier this year, Star issued a downgrade saying it now expects to generate just $1.68 billion in total revenue from its two casinos in Queensland https://blackcoin.co and its casino in NSW this financial year. This is a fall from $1.8 billion in 2023, which was originally thought to be the low point. "I recognise that there are many complex issues and challenges for the company to address," McCann said at the announcement of his appointment.
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