An independent examination of Star Entertainment Group and its land-based gambling establishment in Sydney has been prolonged for an additional two months to enable a greater number of individuals to offer testimony.
The assessment, which was initially planned to conclude on June 30, will now proceed until August 31, as more individuals are summoned to provide evidence.
The New South Wales Independent Liquor and Gaming Authority has authorized the extension following a request from Adam Bell SC, who is overseeing the review, for additional time to conduct further investigations to completely fulfill his responsibilities.
“The Authority fully supports Mr. Bell’s examination of additional witnesses and further consideration of certain key matters,” stated Philip Crawford, Chairman of the Authority.
Star Entertainment Group has acknowledged the extension and indicated that it will continue to collaborate with the review process.
The initial examination was initiated last June in response to concerns regarding Star Sydney’s interactions with junket operators and its anti-money laundering procedures. In January, the scope of the review was broadened to encompass other entities within the group.
Ongoing public hearings examining Star Entertainment Group’s operations have uncovered a plethora of accusations. These include claims that Star Entertainment Group permitted Suncity, a VIP room operator, to establish its own exchange counter at Star Sydney Casino. At this counter, chips were exchanged for cash, a practice that contravenes the New South Wales Casino Control Act.
The case also alleges that Star Entertainment Group’s assertions regarding its policies designed to mitigate risks such as money laundering, corruption, bribery, insider trading, and gambling product usage restrictions were misleading or deceptive.
In his letter of resignation, Bekier stated that he was accountable for the “effectiveness and adequacy of the company’s processes, policies, personnel, and culture” as managing director and chief executive officer.
Last month, Matt Bekier, Star Entertainment Group’s long-standing CEO and managing director, stepped down from both positions following concerns raised during an ongoing review of Star Sydney Casino.
Last week, Star Entertainment Group announced the appointment of John O’Neill as interim executive chairman, effective immediately. O’Neill will assume leadership of the company in his new role following Bekier’s departure.
Also last week, Star Entertainment Group faced a class action lawsuit filed by investors represented by Slater and Gordon Lawyers. These investors are seeking compensation for the operator’s “misleading or deceptive statements” regarding its adherence to regulatory obligations.
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