The Star Entertainment Awaits NICC Report on Sydney Casino
The Star Entertainment Group Limited has stated that it has not yet received or been informed about the latest inquiry concerning its Sydney operations.
The Star yet to be given NICC report on Sydney casino.
LISTEN TO THIS ARTICLE:The NSW Independent Casino Commission (NICC) announced on July 31st that it had received the final report from a second independent inquiry into The Star Sydney, marking the conclusion of the inquiry that began in February.
According to the gaming regulator, Adam Bell SC delivered the report to NICC Chief Commissioner Philip Crawford on Wednesday. The regulator said that it will now consider the report before it is made public and its response “will be communicated in due course.”
Future of Sydney Casino at Stake
The findings and recommendations in this report will play a critical role in determining the future operations and regulatory actions for The Star’s Sydney casino.
A recent article in the Australian press alleged that the inquiry found The Star Entertainment Group still unfit to independently manage its Sydney casino. The article claims that despite six months of remediation efforts, significant progress has not been observed since the company was initially found unsuitable in October 2022.
The inquiry, led by Caspar Conde and overseen by Adam Bell SC, emphasized the need for ongoing external oversight. The final report could result in further actions, including the potential permanent closure of the casino.
In response to the media reports, The Star maintained that it has not yet received or been informed of the report’s contents. The company’s board chairman, Anne Ward, stressed that they are awaiting the NICC’s decisions and will respond accordingly.
More Regulation News
Report Comes after Several Executive Changes
Recently, The Star announced the resignation of its Chief Risk Officer, Scott Saunders, approximately one and a half years after his appointment. This follows a series of executive changes within the company, including the appointment of a new group CEO and Managing Director last month. Additionally, David Foster, the group’s Chairman resigned following the earlier resignations of CEO Robbie Cooke and CFO Christina Katsibouba in the first quarter.
The company has also been the subject of speculation about a potential takeover and faced an Australian Stock Exchange price query after a sudden increase in its share price.
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