An independent assessment of Star Entertainment Group and its Sydney land-based gambling establishment has been prolonged for an additional two months to enable a greater number of individuals to offer testimony.
The examination of Star Entertainment Group will now proceed until August 31, as official summonses have been issued for additional witnesses to appear.
The evaluation, headed by Adam Bell SC, was initially planned to conclude on June 30 but will now extend until August 31.
The New South Wales Independent Liquor and Gaming Authority granted the extension after Bell requested an extended timeframe to conduct further inquiries to fulfill his responsibilities.
“The Authority fully supports Mr. Bell’s examination of additional witnesses and further deliberation on certain key matters,” stated Authority Chair Philip Crawford.
Star Entertainment Group acknowledged the extension, indicating that it will continue to fully cooperate with the assessment.
The initial investigation was initiated last June due to concerns regarding Star Sydney’s interactions with VIP areas and anti-money laundering procedures. In January, the scope of the investigation was broadened to evaluate other entities within the group.
Continuous public investigations into Star Entertainment Group’s operations have uncovered a series of accusations. These include claims that Star Entertainment Group permitted VIP room operator Suncity to run its own chip exchange at The Star Sydney. This exchange facilitated the conversion of chips into cash, despite this practice being prohibited in New South Wales.
The inquiry further alleges that Star Entertainment Group’s declarations regarding policies designed to mitigate risks such as money laundering, corruption, bribery, insider trading, and gambling product usage limits were inaccurate or deceptive.
Last month, Star Entertainment Group’s long-standing CEO and Managing Director Matt Bekier stepped down amidst the ongoing examination of The Star Sydney.
In his letter of resignation, Bekier stated that as Managing Director and CEO, he was accountable for the “effectiveness and adequacy of the company’s procedures, policies, personnel, and culture.”
Last week, Star Entertainment Group announced the appointment of John O’Neill as temporary executive chairman, effective immediately. O’Neill will assume the leadership role from Bekier.
Also last week, Star Entertainment Group faced a class action lawsuit initiated 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 requirements.