The Star Entertainment Group says that the New South Wales Independent Casino Commission (NICC) does not endorse its hiring of an independent monitor regarding it’s the Star Sydney Casino property.
The Sydney property is currently being run by Nicholas Weeks, an appointee of the NICC following the indefinite suspension of its casino license in the state and an AU$100 million ($66.5 million) fine after the results of the Bell inquiry.
A review of the group’s suitability to hold its Queensland casino licenses is also still underway, which could result in the suspension of its licenses for its two casinos in the state.
In a release on Thursday, The Star noted that it had engaged Allen & Overy Consulting (A&O) to provide it with monitoring and assurance services ‘in relation to management’s progress in implementing disclosed remediation actions’.
However, the NICC ‘does not endorse the appointment of an independent monitor at this time’.
The group also notes that the remediation program that it has developed ‘is preliminary in nature and has not been endorsed nor approved by the NICC’.
It furthers that, ‘based on information received from The Manager of The Star Sydney Casino (Nicholas Weeks), The Star does not anticipate that the NICC will consider endorsing or approving any remediation program for some time’.
Currently, The Star Sydney is being run by Weeks, remaining open and operating and ‘net earnings continue to be paid to The Star after payment of the manager’s costs and expenses’. However, Weeks has ‘assumed responsibility and control for the business of the Sydney Casino and is consider the holder of the casino license’.