Australia's Star Entertainment to lay off 500, trims earnings view

Australia's Star Entertainment to lay off 500, trims earnings view

FILE PHOTO: A visitor takes a photograph of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia March 6, 2017. REUTERS/Steven Saphore

Australia’s Star Entertainment Group Ltd on Wednesday announced 500 job cuts and trimmed its annual earnings forecast, sending its shares 11% lower, as regulatory restrictions and weak consumer behaviour dent the casino operator’s earnings.