Australian gaming operator The Star Entertainment Group Limited says that it has not yet received or been informed of the contents of the most recent inquiry over its Sydney operations.
The NSW Independent Casino Commission (NICC) revealed on 31st of July that it had received the final report from a second independent inquiry into The Star Sydney, marking the formal conclusion of the inquiry initiated in February.
The gaming regulator noted Adam Bell SC had presented the report to NICC Chief Commissioner Philip Crawford on Wednesday.
‘The NICC will now consider the contents of the report before it is made public. The NICC’s response to Mr Bell SC’s findings will be communicated in due course’, informed the regulator.
The findings and recommendations within will be crucial in determining the future operations and regulatory measures for The Star’s Sydney casino.
In a recent article, newspaper The Australian alleged that the inquiry into The Star Entertainment Group has determined that the company is still not fit to independently manage its Sydney casino.
The article states that despite six months of remediation efforts, significant progress has not been made since the company was initially deemed unsuitable in October 2022.
The inquiry, led by Caspar Conde and overseen by Adam Bell, SC, was said to have emphasized the necessity for continued external oversight. The final report could lead to further actions, potentially including the casino’s permanent closure
In a reply to media reports today, The Star argued that it has not yet received or been informed of the report’s contents.
‘The company’s board chairman, Anne Ward, emphasized that they are awaiting the NICC’s decisions and will respond accordingly’, the announcement noted.
The operator recently announced that its Chief Risk Officer Scott Saunders has tendered his resignation, about one and a half years since his appointment.
The company has seen a raft of executive changes recently, having announced the appointment of a new group CEO and Managing Director last month, with the group’s Chairman – David Foster – resigning, following the resignations of CEO Robbie Cooke and CFO Christina Katsibouba in the first quarter.
The group has also been the target of speculation regarding a potential takeover, and of an Australian Stock Exchange (ASX) price query after a sudden share price hike.
