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Shares of the casino operator fell as much as 25.9% to A$0.415 in early trade, posting their biggest intraday drop ever, as trading resumed after a halt on Monday. The new inquiry will investigate the suitability of Star to be associated with the management or operations of its Star Sydney casino. This would be the second inquiry into Star's Sydney casino operations since 2022. ....
Under the agreement, Star Entertainment would also be required to begin a trial of cashless and carded play at its Sydney casino. "The Star has agreed to maintain a minimum headcount, and certain ratios of full-time, part-time and casual employees, in respect of The Star Sydney casino until 30 June 2030," the casino operator said. Star Entertainment, Australia's second-biggest casino operator, has seen its profits erode as it faced regulatory restrictions on its Sydney operations from mid-2022 as well as stiff competition from bigger rival Crown Resort. ....
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