Star Entertainment fined $100 million by NSW Independent Casino Commission, casino license suspended

Star Entertainment Group’s Sydney casino license will be suspended from Friday and the group will have to pay a record $100 million fine for failing to stop criminal activity and money laundering inside the casino. .

The penalties were announced Monday morning by the New South Wales Independent Casino Commission (NICC). The NICC said it had appointed Nicholas Weeks as the casino’s manager, effective from 9 a.m. Friday, in the “public interest.” Even under the circumstances of the suspension, the casino was still able to conduct transactions and is now owned by the license holder Weeks. $100 million fine First revealed by this masthead on Sunday.

Monday, when the fines were announced, also marks the first day in office of the casino giant’s new CEO, Robbie Cook.

Last month, the commission issued a report by SC’s Adam Bell that found The Star unfit to hold a casino license, and Supreme Commissioner Philip Crawford called the company a “breathtaking system.” arrogance on top.”

The Bell report followed a public inquiry Investigation triggered by Herald, age When 60 minutes The casino has been accused of money laundering, organized crime, mass fraud, and foreign interference for years, even though the board has been warned that it is failing to control money laundering. claimed to have done so.

Cook said last week that he was “faced” with the revelations uncovered by Bell’s investigation and Gotterson’s investigation into Starr’s Queensland operations.

“The business has gone astray in many areas, but I am committed to mending it and getting the group back on track. [to hold its casino licenses]said Cook.

In response to the report, the casino group said it was ready to do “whatever it takes” to restore its suitability as an operator, appointed independent oversight and promised a cultural review.

A fine of $100 million is the maximum penalty possible under legislation introduced by the NSW government in August.