Star Entertainment Successfully Implements 22 NSW Recommendations
LISTEN TO THIS ARTICLE:A report from David Harris, the New South Wales (NSW) Minister for Gaming and Racing, has found that Australia’s Star Entertainment has so far successfully followed 22 of the 30 recommendations made following the highly critical inquiry into the company that took place last year.
The report was published by the NSW government in order to show the progress that the company has made since the inquiry.
The Independent Liquor and Gaming Authority, now known as the NSW Independent Casino Commission, selected Adam Bell SC to run the review of Star Entertainment in September 2021 with the aim of establishing whether it was suitable to hold a casino license and complied with all the relevant regulations.
Related: Matt Bekier Quits as the Star Entertainment Managing Director and CEO
Star Entertainment Found Unsuitable to Hold License
When the inquiry reported back in September 2022, Star Entertainment was found to be unsuitable after “many governance, risk management and cultural failings” were uncovered. The inquiry also ruled that Star Entertainment approached the regulator “with disdain” and was “deceptive” in its communications.
Relevant: The Star Entertainment Group Draws Heavy Criticism at Inquiry
A later inquiry in Queensland also reached similar conclusions, and the company was issued an AU$100 million fine and given a number of remediation orders.
It was also hit with enforcement action from AUSTRAC, Australia’s financial watchdog, and so far, four class action lawsuits have been brought against the company.
Progress Being Made
As noted, the report from NSW found that 22 of the 30 recommendations from the Bell inquiry have been implemented. The other eight are reportedly in progress.
A recent update from Star Entertainment said that the company is continuing to “engage with the appointed manager and relevant regulators in relation to its remediation initiatives.”
Related: Star Entertainment Group Continues to Reform
The report from the NSW parliament highlighted that full implementation will take some time.
It is important to note that many of the recommendations are multi-faceted, with complex workstreams which require longer time frames to allow for effective implementation and monitoring. In addition, many of the recommendations are expected to be built into The Star’s remediation plan which is in the process of being finalised.
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