The Star Leisure Group has been discovered unfit to carry its Sydney on line casino licence following a damning inquiry into its suitability.
The NSW Impartial On line casino Fee (NICC) revealed Adam Bell SC’s report on Tuesday, which discovered The Star unsuitable to carry a on line casino licence in NSW.
“The NICC has issued The Star with a present trigger discover and is contemplating its choices for disciplinary motion in response to Bell’s findings and proposals.”
The Sydney and Brisbane on line casino operator requested a buying and selling halt on the ASX on Monday. The Bell report was handed to the NSW authorities at the start of this month after 36 on-line hearings and testimonies from greater than 30 witnesses.
The general public inquiry was launched after a 2021 investigation by the Herald, The Age and 60 Minutes alleged The Star enabled suspected cash laundering, organised crime, large-scale fraud and international interference in its Australian casinos for years, despite the fact that its board was warned its anti-money-laundering controls have been failing.
Alleged cash laundering, felony infiltration and fraud took centre stage through the inquiry, which led to the resignations of Star executives, together with former boss Matt Bekier and chairman John O’Neill. Star had claimed that the numerous overhaul of its senior ranks made it appropriate to proceed holding its on line casino licence.
Counsel aiding the inquiry Naomi Sharp, SC, closed her submissions in June arguing that Star Leisure Group and its shut associates weren’t appropriate for a on line casino licence and had but to decisively rectify its dysfunctional inside tradition and threat administration failures.
The on line casino’s board, she mentioned, was solely greedy the extent of its “unsuitable associations and uncontrolled cash laundering dangers” due to the revealing public evaluate.
“The report is, fairly frankly, stunning. It gives proof of an in depth compliance breakdown in key areas of The Star’s enterprise,” NSW Impartial On line casino Fee chief commissioner Philip Crawford mentioned.