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Star remains ‘unfit’ to hold a casino license in NSW after allowing known criminals and money launderers to gamble – with gambling operator given 14 days to avoid disciplinary action
- Sydney Star casino may revoke its license after report findings
- A report from the NSW gambling regulator was released Tuesday following an investigation
- The casino has broken the law, tricked banks and been infiltrated by criminals
- Chief Commissioner Philip Crawford called for casino punishment
Sydney’s Star casino could have its license revoked after a damning report found it had repeatedly broken the law, misled banks and been infiltrated by criminal elements for years.
The report, released Tuesday after a months-long royal commission-style investigation by the NSW gambling regulator, found that the casino was not eligible to hold a casino license.
As a result, the newly created NSW Independent Casino Commission said it had issued a statement to the show, forcing the casino group to explain why no disciplinary action should be taken.
Sydney’s Star casino (above) has been deemed ineligible to hold a gambling license after a report revealed it repeatedly broke the law, misled banks and was infiltrated by criminals
The withdrawal of the casino license and the imposition of fines are among the possibilities.
“Doing nothing is not an option,” Chief Commissioner Philip Crawford told reporters.
“It’s not a matter of pinning the tail on the ass – it wasn’t one person who dictated the behavior and attitude of the casino.
“The institutional arrogance of this company is appalling.”
No negative findings were made about the directors, with Mr Crawford finding that they “had no idea what was going on in their own casino”.
The investigation was sparked after media reports alleged that Star facilitated suspected money laundering, fraud and foreign interference and organized crime in gambling establishments, including the Sydney casino.
Chief Commissioner Philip Crawford (above) called for harsh sentences for the Star, saying ‘Doing nothing is not an option’
Senior management admitted that junket operator Suncity continued to operate within Star despite a 2019 Hong Kong Jockey Club report linking the group to triads, ‘large scale’ money laundering and drug trafficking.
Star executive Matt Beiker resigned in the third week of the hearings after an auditor said he had been scolded by the casino owner for reporting that the organization was not doing enough to comply with laws against money laundering and financing. terrorism.
He later blamed a poor casino culture for failing to address money laundering and deceiving banks and the regulator, revealing that he personally green-lit an $11 million line of credit to a high roller. and approved illegal loans.
Further disclosures led to the resignation of CEO John O’Neill, Chief Financial Officer Harry Theodore, Chief Casino Officer Greg Hawkins and Chief Legal and Risk Officer Paula Martin.
Star’s former group treasurer Sarah Scopel also stepped down from her similar role at Woolworths Group.
The ASX-listed Star Entertainment Group stopped trading Monday morning due to the expected release of the report.
The stock closed at $2.66 on Friday, nearly 40 percent lower than around this time last year.
The casino group is also facing an ongoing investigation into its Queensland operations.
That investigation learned that staff falsely recorded $55 million in gambling transactions as hotel expenses and continued admission of a high-roller for years, despite his ban on casinos in two states and ties to the Italian mafia.