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In Australia and closing arguments have reportedly begun as part of the public inquiry into The Star Entertainment Group Limited with critics continuing to contend that the firm should be deemed unfit to hold a New South Wales casino license.
According to a Tuesday report from The Guardian newspaper, the Brisbane-headquartered operator is being investigated as part of an official license suitability exercise for its 351-room The Star Sydney property. This New South Wales Independent Liquor and Gaming Authority-sanctioned exercise has purportedly already looked into claims that the company conspired with organized crime figures and been complicit in instances of money laundering, fraud and foreign interference.
Considerable critic:
In her closing submission to the inquiry and state counsel Naomi Sharp (pictured) reportedly insisted that The Star Entertainment Group Limited remains unfit to hold a New South Wales casino licence because it has only recently begun to remedy its many corporate shortcomings. The experienced barrister purportedly also declared that the firm and its sole Sydney property were only at the start of their examinations of ‘what has gone wrong within these organizations’ and should be denied a license until they have satisfied ‘most norms.’
Sharp reportedly told the probe…
“We submit that the evidence in the public hearing establishes that The Star Sydney is not suitable to hold the casino licence and that its close associate, The Star Entertainment Group Limited, is not suitable either. There has not yet been the period of deep reflection, which of course will be necessary in order to develop a concrete plan about what can bring these corporations into a position of suitability.”
Preceding pattern:
This 36-day inquiry is being led by prominent local attorney Adam Bell and kicked off approximately eight months after rival operator Crown Resorts Limited was refused permission to open a casino within its new Crown Sydney facility owing a slew of money laundering allegations tied to that company’s former use of foreign junket firms. Sharp purportedly told this latest probe that The Star Entertainment Group Limited should be held to the same standards as its compatriot and treat its casino licence as a privilege that confers the ability to earn ‘very substantial revenues.’
Sharp reportedly asserted…
“In exchange for that privilege, the casino operator is given a number of very important responsibilities.”
Wrong relationship:
The Star Entertainment Group Limited is also responsible for The Star Gold Coast and Treasury Brisbane venues in Queensland and is hoping to premiere that state’s $2.3 billion Queens Wharf Brisbane development by the summer of next year. However, Sharp reportedly outlined how the Sydney-listed company had continued to run an illegal high-roller operation within its The Star Sydney venue in partnership with sullied junket enterprise Suncity Group despite an earlier assertion that such a relationship did not exist.
Manifold infractions:
Sharp reportedly went on to profess that The Star Entertainment Group Limited had furthermore flouted rules on the use of Chinese debit cards to process at least $647 million in illicit transactions, lied to banks about these dealings and failed to properly engage with local regulators. She purportedly moreover contended that the operator had worked covertly to stop the public hearing taking place and could have failed to contribute sufficient New South Wales gaming duties.
Guidance gap:
The Guardian reported that Sharp additionally alleged that there had been a lack of supervision in The Star Sydney’s international VIP team, which was led by John Chong and then Marcus Lim, with ‘certain shortcomings’ on the vetting of high-value patrons as well as later failures regarding board notifications. She then purportedly admitted to having ‘significant concern’ regarding allegations that the operator’s legal team could have utilized professional privilege to carry out unethical activities.
Executive exits:
Sharp reportedly finished her summing up exercise yesterday by declaring that The Star Entertainment Limited had demonstrated ‘very serious’ deficiencies in risk management with multiple dangers having been either ignored or discounted. All of this purportedly comes as the casino firm has been experiencing a clean-out with its Chief Executive Officer, Matt Bekier, Chief Financial Officer, Harry Theodore, Executive Chairman, John O’Neill, and Chief Casino Officer, Greg Hawkins, having been among a raft of recent senior management resignations.
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