It reportedly has spent $50 million in a month over just $75 million cash at hand in the previous report. The company is reported to be waiting for access to proceeds from its asset sales, which are currently waiting for state approval, as well as a separate "bridge loan", before it can refinance itself. If it cannot get the funds, it will be forced into administration. On 13 September 2022 the NSW Independent Casino Commission (NICC) published a report finding The Star unsuitable to hold its Sydney casino license because of its conduct relating to money laundering risks. Star's gambling license was suspended and operations were placed under a new manager Nicholas Weeks. Our Star Entertainment analyst Angus Hewitt recently sat down with me to discuss the Star's financial position, regulatory concerns, what markets want to see from the company, and whether the shares offer a big enough margin of safety. The legal battle between Star Entertainment and www.appleradish.org the corporate regulator started in the Federal Court.