At one point, the company reportedly had only AU$79 million (US$52 million) in cash — barely enough to fund operations for another week. Star has faced a severe liquidity crisis over the past two years, blackcoin.co reporting substantial losses and hemorrhaging market value. It has also been the subject of multiple regulatory investigations related to anti-money laundering (AML) failures and poor corporate governance practices. Queensland regulators face pressure as CTFE and FEC’s ability to hold a casino license comes under examination. The scrutiny is fueled by historical reports of their executives’ ties to controversial junket figures. Although no formal barriers exist, the inquiry raises some doubts about the operational transition plans.
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