In a last-minute effort to save its casino license, Star Entertainment Group has made a compelling argument to the New South Wales government, appealing for a second chance to demonstrate its commitment to ethical business practices and regulatory compliance.
The Australian casino operator has faced severe scrutiny and backlash in recent months following a damning inquiry by the New South Wales Independent Liquor and Gaming Authority (ILGA). The inquiry uncovered widespread money laundering activities and links to criminal organizations within the Star Sydney casino, leading to the suspension of the company’s casino license in February.
Since then, Star Entertainment has been working tirelessly to address the issues raised by the ILGA and implement robust anti-money laundering measures to prevent any further breaches. The company has appointed a new independent monitor to oversee its operations and has launched a comprehensive review of its compliance procedures.
In a statement released today, Star Entertainment CEO Matt Bekier pleaded with the government to give the company another chance, emphasizing the significant economic impact of losing its casino license. The Star Sydney casino is one of the largest employers in the state, providing thousands of jobs and generating millions of dollars in revenue for local businesses.
“We acknowledge the seriousness of the breaches identified by the ILGA and we are deeply committed to rectifying our mistakes and ensuring that we operate within the highest standards of integrity and transparency,” Bekier said.
“We have made significant progress in addressing the issues raised by the inquiry and we believe that we have the necessary controls in place to prevent any future breaches. We urge the government to consider the wider implications of revoking our license and to give us the opportunity to demonstrate our commitment to complying with all regulatory requirements.”
The ILGA is expected to make a decision on the future of Star Entertainment’s casino license in the coming days, following a series of public hearings and consultations with stakeholders. The outcome of the inquiry will have far-reaching consequences for the company and the broader gambling industry in Australia.
In the meantime, Star Entertainment is continuing to cooperate fully with the ILGA and is committed to implementing any additional recommendations or requirements that may be imposed on it. The company remains hopeful that it will be able to regain the trust of regulators and customers and continue to operate its flagship casino in Sydney.
