(Reuters) -Embattled Australian casino operator Star Entertainment said on Wednesday that long-term performance rights awarded to its top executives and managers have lapsed for the seventh consecutive year after the company once again failed to meet key performance hurdles.

The rights granted for the year ending in June 2022 were canceled after Star fell short on all three metrics used to determine vesting – earnings per share, relative total shareholder return, and return on invested capital.

Each measure accounts for one-third of the award and vests only if Star’s relative TSR meets or exceeds the 50th percentile of its peer group — a threshold the company has not cleared since 2019.

Star’s total annualised return in Australian dollar terms has fallen 37.7% since the start of fiscal

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