The Star Sydney casino has had its licence suspension extended after the New South Wales Independent Liquor and Gaming Authority (ILGA) announced that the casino will remain closed until further notice.
The decision comes after an investigation by ILGA found evidence of serious non-compliance with gaming regulations and insufficient measures to prevent money laundering at the casino.
ILGA Chair Philip Crawford stated that it was a necessary step to extend the suspension in order to protect the integrity of the state’s gaming industry. He emphasized that the authority takes regulatory breaches very seriously and will not hesitate to take action against any operator that fails to uphold the highest standards of compliance.
The Star Sydney first had its licence suspended in August after the ILGA raised concerns about the casino’s compliance with anti-money laundering and counter-terrorism financing laws. The suspension was initially set to last for two weeks, but has now been extended as the investigation continues.
The casino has issued a statement expressing its disappointment with the decision, but has pledged to fully cooperate with the ILGA to address the issues raised and improve its compliance measures.
This latest development is a blow to The Star Entertainment Group, which operates the casino, as well as the wider Australian gaming industry. The Star Sydney is one of the largest and most popular casinos in the country, attracting millions of visitors each year.
The extension of the licence suspension is expected to have a significant impact on the casino’s bottom line, as well as on its employees and suppliers. The Star Entertainment Group has stated that it will work with all stakeholders to minimize the impact of the closure and ensure a smooth transition when the casino is allowed to reopen.
In the meantime, ILGA will continue its investigation into The Star Sydney’s compliance issues and work with the casino to implement necessary changes. The authority has stated that it will not lift the suspension until it is satisfied that the casino is fully compliant with all regulatory requirements.
Overall, the news of The Star Sydney’s extended licence suspension serves as a reminder of the importance of maintaining strict regulatory standards in the gaming industry. It also highlights the need for operators to take their compliance obligations seriously in order to avoid similar repercussions in the future.