{"id":234399,"date":"2022-09-28T07:08:04","date_gmt":"2022-09-28T12:08:04","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=234399"},"modified":"2022-09-30T04:24:20","modified_gmt":"2022-09-30T09:24:20","slug":"star-entertainment-accepts-failures-at-nsw-casino-waits-for-ruling-on-its-future","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/star-entertainment-accepts-failures-at-nsw-casino-waits-for-ruling-on-its-future\/","title":{"rendered":"Star Entertainment Accepts Failures at NSW Casino, Waits for Ruling on Future"},"content":{"rendered":"

After New South Wales (NSW) wrapped up its inquiry into Star Entertainment<\/a>, it gave the casino operator two weeks to explain why it shouldn\u2019t lose its license. The response is in, and Star has issued a reverberating mea culpa as it hopes to avoid a worst-case scenario.<\/p>\n

\"Star
Star Entertainment interim board chairman Ben Heap gives a public address during the casino operator’s fight to hold on to its NSW license. The company admitted it failed, but hopes to avoid a license suspension. (Image: The Australian<\/em>)<\/figcaption><\/figure>\n

Star, which has acknowledged that it facilitated money laundering at its casinos for years, risks a license suspension in NSW. The same happened to Crown Resorts<\/a> when it fell for the same reasons.<\/p>\n

Like Crown, it\u2019s likely the suspension would only be temporary, not permanent, as some believe it should be. Star said in a statement that it accepts the inquiry\u2019s findings and that it is already making major changes to become a law-abiding citizen of the corporate world.<\/p>\n

Yesterday\u2019s Star is No More<\/h2>\n

In its response, Star highlighted the various measures it has already introduced in order to appease regulators. These include a divorce from junkets, as well as enhanced security and surveillance.<\/p>\n

The latter hints at the \u201csecret\u201d money exchange room, Salon 95<\/a>, at the Star Sydney casino. Junket operator Suncity Group controlled the space even after former Star CEO Matt Bekier told regulators it didn\u2019t. Suncity is also in trouble, with founder Alvin Chau<\/a> standing trial in Macau for illegal gambling, money laundering, and other crimes.<\/strong><\/p>\n

In addition to the measures it implemented, Star\u2019s new executives and board members have developed a\u00a0 different plan of attack going forward. Interim board chairman Ben Heap is driving changes to bring the company into compliance with financial and gaming regulators.<\/p>\n

The plan includes around 130 steps and will take two years to complete. Star has reached eight of those, according to its announcement. It expects to complete 29 more before the end of the year. Among these are a new independent compliance committee and the departure of executives, several of whom have already resigned.<\/p>\n

\n

In an effort to show that the company was already working to overcome its deficiencies, Heap highlighted the inquiry\u2019s findings. He pointed out that Star had already begun making changes prior to the launch of the formal investigation.<\/p>\n<\/div>\n

Star is facing a similar situation in Queensland over the same charges. However, because of its involvement in the Queen\u2019s Wharf<\/a> project, losing its license in the state is likely not an option there, either.<\/p>\n

Calls For a Second Chance<\/h2>\n

As NSW decides what to do, and because it\u2019s on the road to recovery, Heap recommended to the NSW Independent Casino Commission (NICC) that Star keep its license. He said that Star wants to work closely with the regulator in order to reform its operations and show that it’s taking its responsibilities seriously.<\/p>\n

\n

Philip Crawford, who heads the NICC and who previously led the NSW Independent Liquor & Gaming Authority, isn\u2019t easily swayed. When the inquiry concluded, he called Star\u2019s arrogance \u201cbreathtaking.\u201d He added that the company has a history of willfully avoiding \u201cthe right level of transparency.\u201d<\/p>\n<\/div>\n

The NICC will reportedly make the final call on what happens to Star\u2019s NSW license. The head of the state, Premier Dominic Perrottet, doesn\u2019t want to influence the agency’s decision, but called Star\u2019s actions \u201ccompletely unacceptable.\u201d<\/p>\n

The process is now in the hands of the NICC. It is reviewing all of the details, including Star\u2019s most recent input, before it issues its decision. It\u2019s now a waiting game, as the regulator hasn’t indicated when it will announce its verdict.<\/p>\n","protected":false},"excerpt":{"rendered":"

After New South Wales (NSW) wrapped up its inquiry into Star Entertainment, it gave the casino operator two weeks to explain why it shouldn\u2019t lose its license. The response is in, and Star has issued a reverberating mea culpa as it hopes to avoid a worst-case scenario. Star, which has acknowledged that it facilitated money […]<\/p>\n","protected":false},"author":64,"featured_media":234398,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,33810],"tags":[81985,13363,82763],"acf":[],"yoast_head":"\nStar Entertainment Accepts Failures at NSW Casino, Waits for Ruling on Future - Casino.org<\/title>\n<meta name=\"description\" content=\"After New South Wales (NSW) wrapped up its inquiry into Star Entertainment, it gave the casino operator two weeks to explain why it shouldn\u2019t lose its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/star-entertainment-accepts-failures-at-nsw-casino-waits-for-ruling-on-its-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Star Entertainment Accepts Failures at NSW Casino, Waits for Ruling on Future - 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