Australian casino and entertainment group Star was suspended from the Sydney Stock Exchange on Monday for failing to publish its annual results.
Star’s listing is “suspended” for failing to “submit the relevant periodic reports by the deadline,” the exchange said.
The company had until August 30 to do so.
The sanction, usually temporary, follows a series of scandals involving Star, which is accused of being lax in its fight against money laundering.
Trading in Star shares was halted on Friday, with the regulator arguing that the group’s actions were “inappropriate” and did not meet the criteria for holding a casino operating license.
“Star entities are currently not up to par” in this regard, the regulator explains in its latest investigation.
In addition, regulators have discovered that Chinese billionaire Huang Xiangmo, who made his fortune in real estate, was a major patron of Star, with more than $1 billion (around €900 million) invested over several years.
He is blacklisted by the Australian government, which considers him to be under the influence of Beijing.
