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Star's Sydney casino licence to be suspended this week in wake of damning
inquiry

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STAR'S SYDNEY CASINO LICENCE TO BE SUSPENDED THIS WEEK IN WAKE OF DAMNING
INQUIRY

By Harriet Tatham
Posted 20h ago20 hours agoSun 16 Oct 2022 at 11:25pm, updated 14h ago14 hours
agoMon 17 Oct 2022 at 5:43am

Last month an inquiry concluded Star was unsuitable to hold a licence for its
Sydney casino.(AAP: James Gourley)
Help keep family & friends informed by sharing this article
abc.net.au/news/star-sydney-casino-licenced-suspended-on-friday/101541718
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The Star’s licence to operate its Sydney casino will be suspended from Friday
and the group will be fined an unprecedented $100 million, the NSW Independent
Casino Commission (NICC) has announced.


KEY POINTS:

 * A manager will oversee the licence until it's determined whether Star can
   rectify its wrongdoings
 * Shares in The Star Entertainment Group have now been placed in a trading halt
 * An inquiry into the casino found allegations of money laundering, organised
   crime links and fraud



In response to a damning inquiry into the casino's operations that heard
allegations of money laundering, fraud and criminal activity, a manager will
also be installed to oversee the business.

This means The Star casino will be able to continue trading under the manager’s
licence for at least 90 days, but the NICC chief commissioner, Philip Crawford,
said it could take longer to restore the casino to "suitability".

He said it was in the "public interest" to appoint manager Nicholas Weeks to
oversee the licence until it can be determined whether The Star can rectify its
wrongdoings and prove it is fit to hold a licence.

"We've lifted the lid and put the spotlight on [what has happened], and we want
to see real action on their part,” Mr Crawford said.

The $100 million fine is the maximum penalty under new casino regulation laws
introduced by the NSW government in August.


Philip Crawford said Star needed to earn their licence back.(AAP: Paul Braven)

This afternoon, the Star released a statement to the ASX confirming it will pay
the $100 million penalty "on a timetable yet to be agreed by NICC" and
acknowledged its licence "will be suspended indefinitely."

It also noted Mr Week's position as manager is to run the casino in a way that
is "broadly consistent with the manner in which the former casino operator
operated the casino," except when it is "necessary" or "appropriate" to make
changes that will "address matters identified in the Bell Review."

Last month, Star Entertainment Group accepted the findings of an inquiry headed
by Adam Bell SC, which included that it was unsuitable to hold a licence for its
Sydney casino.

The inquiry heard allegations of money laundering, organised crime links and
fraud at the casino in Pyrmont.

In response, the Star Entertainment Group said it had taken "significant and
urgent remedial steps" and would do "whatever necessary" to "restore" the casino
to suitability.

The company said it had developed a comprehensive, multi-year plan, with 130
milestones to meet over two years, including:

 * permanently exiting junkets
 * increased risk, compliance, and security staff
 * changes to leadership.

It was this response that convinced the NICC that Star was aware of the
"gravity" of the inquiry and would work "transparently" with the regulator.

"If it were not for The Star’s change in attitude and our belief that it is in
the public interest to protect the thousands of jobs at risk, there might have
been a different outcome," Mr Crawford said.

The announcement coincides with the first day on the job for Star's new chief
executive, Robbie Cooke.


Monday was the first day on the job for The Star's new chief executive, Robbie
Cooke.(AAP: Dan Peled)

Mr Crawford said he was hopeful Mr Cooke could apply his experience and
leadership to guide the company towards suitability.

"We didn’t have much confidence in that, after the Bell review, but we’ve now
met Robbie Cooke, and we’ve seen that letter, and [Star chairman] Ben Heap is
leading the board in a way that shows contrition," Mr Crawford said.

Even though the net profits of the gambling operation will continue to flow to
Star, Mr Crawford argued, the suspension was a form of punishment and Star would
need to earn the licence back.

"The Star Casino company that holds a licence in NSW has one major asset — and
that is its licence, and that licence has been suspended,” he said.  

"So, I would assume that’s causing some degree of angst amongst bankers … and
stakeholders in that business.

“Gambling in this country is not illegal, but it's got to be done by certain
rules and there's a really big building piece that needs to be undertaken by The
Star to win back the public confidence," he said.

Mr Weeks is no stranger to the casino industry, having worked as Crown Resorts'
executive general manager of transformation and regulatory response, according
to his LinkedIn profile.

Prior to that, he was NRL's long-term chief operating officer.

Aside from controlling the casino licence, Mr Weeks is tasked with completing a
root cause review into Star Sydney’s culture to identify any other compliance
issues that need to be addressed. 

Premier Dominic Perrottet welcomed the suspension, adding it was his expectation
the licence would not be renewed until Star is compliant.

Shares in The Star Entertainment Group were placed in a trading halt pending the
release of the announcement by NICC.

The halt is set to last until Wednesday.

Just across Sydney Harbour, The Star's main competitor, Crown Sydney, reopened
its doors in August on a conditional basis less than two years after it was
deemed unfit to hold a gaming licence.

Posted 20h ago20 hours agoSun 16 Oct 2022 at 11:25pm, updated 14h ago14 hours
agoMon 17 Oct 2022 at 5:43am
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GET STARTED
1.


THE COST-OF-LIVING CRISIS IS HITTING LEIGH SO HARD, IT'S SHOWING IN HIS BLOOD



2.


RUSSIAN JET CRASHES INTO RESIDENTIAL BUILDINGS IN RUSSIAN CITY OF YEYSK, KILLING
AT LEAST FOUR PEOPLE



3.


PROTESTER DRAGGED INTO CHINESE CONSULATE GROUNDS IN MANCHESTER AND BEATEN



4.


CAN'T WRITE, CAN SPELL: REPORT SHOWS MOST AUSTRALIAN YEAR 9 STUDENTS USE YEAR
3-LEVEL PUNCTUATION



5.


ARSENIC, A TERRIFIED COP AND A BODY IN A HOTEL ROOM: THE MURDER THAT CHANGED
CHINA



6.


'HUMILIATION' FOR UK PM TRUSS AS HER ECONOMIC PACKAGE IS NEARLY TOTALLY REVERSED





TOP STORIES


THE COST-OF-LIVING CRISIS IS HITTING LEIGH SO HARD, IT'S SHOWING IN HIS BLOOD




CAN'T WRITE, CAN SPELL: REPORT SHOWS MOST AUSTRALIAN YEAR 9 STUDENTS USE YEAR
3-LEVEL PUNCTUATION




AUSTRALIA SHOULD BE COOKING WITH GAS AS ITS ENERGY TRANSITION SPEEDS UP. HERE'S
WHY IT WON'T BE




RUSSIAN JET CRASHES INTO RESIDENTIAL BUILDINGS IN RUSSIAN CITY OF YEYSK, KILLING
AT LEAST FOUR PEOPLE




WEEK-LONG DRENCHING TO WORSEN FLOOD CRISIS ACROSS EASTERN STATES


live


THE LOOP: THOUSANDS START FLOOD CLEAN-UP AS WARNINGS REMAIN IN PLACE, SAM KERR
MISSES OUT ON BALLON D'OR




'HUMILIATION' FOR UK PM TRUSS AS HER ECONOMIC PACKAGE IS NEARLY TOTALLY REVERSED




PHANTOM TRACTORS, IMPOSTER BONDS AND SCAMS ABOUT SCAMS — HERE'S WHAT YOU SHOULD
BE WATCHING OUT FOR




FOR SOME VICTORIANS, THE 'DAUNTING' WAIT FOR RAGING RIVERS TO PEAK IS FAR FROM
OVER




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