Star Entertainment Could Lose Casino License in New South Wales
Star Entertainment has been under investigation in New South Wales. The inquiry has been to determine Star Entertainment’s role in fooling state regulators, money laundering, and failing its shareholders. As the inquiry has come to an end, initial reports have suggested that Star Entertainment will be found to be an unsuitable casino operator in NSW.
NSW Wraps Up Star Entertainment Inquiry
The investigation in New South Wales has been looking into business practices at Star Entertainment. The inquiry has lasted 36 days, with current and former employees testifying and former executives. These testimonies confirmed that Star Entertainment seemed more than happy to flaunt laws in order to increase its profits.
The inquiry revealed that Star Entertainment in New South Wales had ties to organised crime, fraud on an international scale, and money laundering. These activities were found to be prevalent even in the upper ranks of the company. Rule-breaking seems to have become the norm at Star Entertainment. As such, the inquiry determined that Star Entertainment is not suitable to hold a casino license in New South Wales. However, it remains to be seen what will happen.
Multiple Star Entertainment Infringements
The panel overseeing the inquiry has made their feelings very clear. The attorney who led large parts, Naomi Sharp, of the inquiry, has said that she doesn’t see a bright future for Star Entertainment in New South Wales. While the inquiry has made its recommendation, it is up to the New South Wales government to determine what the next moves are. Sharp believes that NSW should do the same thing it did with Crown Resorts, and Star Entertainment should lose its license.
Star Entertainment staff handed over fake documents on more than one occasion, with the hope of covering up the spending associated with China Union Pay Cards. These cards were used by Chinese VIP gamblers.
Star Entertainment Inquiry Not Over Yet
While the inquiry has made its recommendations, the closing arguments are still to be made. This will give Star Entertainment the chance to defend itself and make its case for retaining its license. Once these arguments are complete, all inquiry participants can provide rebuttals or additional information between 14 and 21 June. The inquiry leaders will then have until the 24th of June to make their final submission and recommendations.
This will then be presented to New South Wales gambling regulators before the 31st of August. While Star Entertainment has lost many top executives in recent years, it is unlikely that this will protect Star Entertainment. As it stands right now, it looks like Star Entertainment’s future in New South Wales is far from certain.