Star Casino to Undergo Fresh Inquiry over License Eligibility
LISTEN TO THIS ARTICLE:The Star Casino in Sydney will be the subject of a new probe less than a year and a half after a critical report deemed it unsuitable for a casino license.
The NSW Independent Casino Commission (NICC) has appointed Adam Bell SC to conduct a new 15-week inquiry, expressing concerns that the Sydney casino isn't implementing necessary changes to urgently regain its gambling license.
Bell led the initial report released in September 2022 which uncovered evidence revealing occurrences of money laundering, criminal infiltration, and large-scale fraud at Sydney's Star Casino.
There was a substantial shift required and The Star has had 18 months to demonstrate that it has the capability and resources to regain its casino license. When the manager was extended for the second time in December last year, the NICC was not satisfied The Star was progressing its remediation in a timely fashion.
Crawford further stated that the new inquiry will assess whether Star Casino has implemented the "deep structural change" needed to regain its license.
The Star has scheduled to publish its half-yearly results during this week. However, with the latest development, it is unsure whether the release will still go as planned. The announcement has also led to a trading halt of Star’s shares on the ASX.
Since the first inquiry and the revocation of its NSW casino license, The Star has undergone a board and executive team overhaul.
The Star Met 22 out of 30 Recommendations
Last August, a report conducted by the NSW minister for gaming and racing revealed that the casino has implemented 22 of the 30 recommended measures from the Bell report.
The 30 recommendations were established after The Star was designated to be “unsuitable” to hold a casino license. The measures ranged from discontinuing the provision of free liquor to patrons to updating anti-money laundering (AML) and social responsibility rules at The Star.
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