Star Entertainment faces licence loss after explosive inquiry

The Star Entertainment Group has been declared unfit to reclaim control of its Sydney casino after a scathing inquiry revealed widespread shortcomings in the company’s operations. Today, the New South Wales casino regulator paused trading of Star’s shares while deliberating the future of the operator’s licence.

The second inquiry, released that morning, found the company still falling short of the necessary standards for responsible management. Star’s Sydney licence remains suspended after an earlier investigation uncovered severe anti-money laundering and counter-terrorism lapses. Despite this, the casino has continued operations under a regulator-appointed manager.

Fresh findings of compliance failures

The latest report, led by Adam Bell, exposed a series of missed opportunities and four major compliance breaches since the 2022 findings. Notably, a $3.2 million fraud was uncovered, where customers exploited a software glitch to claim unearned funds over a six-week period. The inquiry also identified serious violations of mandated gaming break rules, with staff falsifying records to cover up failures to intervene in extended gambling sessions.

An external review commissioned by Star in mid-2023 highlighted problematic internal values, such as prioritizing profit over ethical practices. The NSW Independent Casino Commission is now considering its next steps in response to the report’s findings...[Read more]