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The stock has fallen almost 40 per cent since the start of the year. Equity analysts are not so confident, with Morningstar analyst Angus Hewitt, in a note to investors, saying that at its current cash burn, the company would be lucky to make it to its interim results scheduled for February 28. "We now incorporate a 50 per cent probability that Star falls into administration, and equity holders are wiped out," Hewitt said. In a possible blow to these asset sale hopes, it has been reported that an Australian company that was lined up to buy the leasehold of the Treasury Hotel in Brisbane has pulled out in recent times. For a sharemarket gambler, an investment in Star is the ultimate high-adrenaline bet.
While not alleged in this instance, in general, money-laundering enables crimes such as scams, fraud, child exploitation and drug/sex trafficking. The court was told the board and executives were "incurious and complacent" about alleged criminal activity and money-laundering, with wads of cash delivered in a blue Esky and in paper bags to a private gambling room. The case against Star Entertainment, like so many others, boils down to "acting with reasonable care and diligence" in respect of risk management.