The Star Entertainment Group is under investigation to determine if it can regain its NSW casino license.

Executive chair David Foster acknowledges the company is not prepared to have its license reinstated at this time.

Inquiry discussions have included text messages about removing a special manager and possibly suing him and the regulator.

Allegations against the company include lack of financial transparency, falsifying player welfare checks, and misrepresenting financial losses.

Foster has discussed his role in the former CEO's exit and his communications with staff.

Star Entertainment's financial stability is in question due to revenue declines from compliance efforts and potential costs from fines and remediation.

The ongoing inquiry aims to ascertain Star Entertainment's eligibility to operate its casino again.