After more than half a year of investigation, the Independent Bureau of Drinking and Gaming (NSW) (ILGA) has determined that Star Entertainment Group is still Not “suitable” for a license There. Further changes in risk management and domestic business culture are needed.
On the last day of the hearing, Assistant Attorney-at-Law, led by Adam Bell, SC, complained of complete failure. Admit the mistake And from limited Admission is too late What was more troubling to observers in the process was that Starr did not seem to understand why the casino’s sound management was wrong or even completely flawed.
The study was conducted by Naomi Sharp, SC.To date, very little has been said about why these problems occurred, and why this misbehavior occurred. There is very little talk about why culture was as inefficient as it was and why the second line of defense under the risk management framework basically failed.,” In accordance with A report in the evening.
Sharp added:We send, there is still a need for one Further reflection period To understand how this might have gone so far wrong“
What went wrong…
What went “wrong” is a host of problems, including alleged fraud, organized crime and money laundering in Star Sydney. The investigation into the mismanagement began after reports from several news organizations, including 60 Minutes, The Age and The Sydney Morning Herald. Alleged criminal activity.
While the casino giant has Replaced senior management Amid a shift to a more responsible board, Sharp opposed replacing it CEO and Chairman of the Board It was enough to bring the institution to a suitable level to have a license without further work.
At After a scandal In a recent interview with Star as well as Crown Resorts, Sharp expressed concern about misleading corporate executives by not informing the NAB about the use of China Union Pay (CUP) cards. Skirt deposit limit Using Deceptive billing methods.
In March, it was claimed that Starr had paid nearly $ 1 billion in gambling deposits as hotel expenses to circumvent card restrictions. Crown Resorts was recently fined $ 80 million for a similar scheme.
Other casinos under review
The Bell report is expected to be completed by the end of August this year. In it, we will see other issues that have been addressed, including why the star continued to trade with SunCity after the 2018 internal report, which showed that there is an unacceptable risk that facilitates money laundering. Dad.
A criminal breach of New South Wales gambling law may have occurred as the star allowed SunCity to operate its cash register inside the casino. Some reports have previously suggested that regulators have seen CCTV footage of people being transferred. Paper bags full of cash.
Suncity was Macau’s largest retailer until Alvin Chao was ousted last November. In late May, Chao was formally charged by Chinese authorities with organizing illegal gambling, money laundering, and “establishing and leading a secret society.”
Other star casinos in Queensland are also under review. The state plans to tighten gambling laws before allowing only Brisbane Casino to move from the Treasury building to Queens Pier next year. At $ 3.6 billion development It will be located on one or two floors upstairs and will provide a place for working class gamblers to find entertainment.
Source:’Lack of floristry management: Star is not yet suitable for running a casinoEvening, June 27, 2022