The Star signs employment agreement in New South Wales
The Star has agreed to maintain employee ratios at its Sydney casino until June 2030.
Australia.- The Star Entertainment Group has entered into an agreement with the New South Wales (NSW) Treasurer which mandates the maintenance of a minimum workforce at its Sydney casino amid the start of a cashless and carded play trial.
The agreement requires Star Entertainment to uphold specified ratios of full-time, part-time, and casual employees at The Star Sydney casino until June 30, 2030.
Star Entertainment has been in discussions with the state in a bid to stabilide its Sydney operations and minimise job losses. Last August, the company secured concessions regarding casino duty rates.
The Star’s Group CEO and managing director, Robbie Cooke, said: “The Star appreciates the constructive engagement with the current NSW Government that has led to the finalisation of an agreement that provides employment certainty for our dedicated and hard-working team members in Sydney.
“As we continue to focus on earning back the trust of the community and implementing the reforms required to restore The Star to suitability, we are also committed to the continuation of our role as a valuable contributor to the NSW economy.”
In its financial results for the fiscal year 2023, The Star Entertainment Group reported that its net loss grew from AU$203m in the prior year to AU$2.44bn (US$1.57bn). The company reported a 22 per cent year-on-year increase in gross revenue to AU$1.86bn (US$1.20bn) and a 34 per cent increase in EBITDA to AU$317m (US$204m).
