NSW regulator says Star’s Sydney casino will close in six months if still deemed unsuitable
Thursday 07 de December 2023 / 12:00
2 minutos de lectura
(Sydney).- Star Entertainment Group’s flagship Sydney casino, The Star Sydney, has six months to return to suitability or its doors will close, according to comments from the state’s casino regulator.
Two weeks after the NSW Independent Casino Commission (NICC) extended the term of the Special Manager overseeing Star’s efforts to return to suitability for another six months from January 2024 until 30 June 2024, a spokesperson for the regulator told the Australian Financial Review (AFR) that The Star Sydney would no longer operate unless it meets its new deadline.
“The NICC is not satisfied The Star has reached a point where the licence suspension can be lifted and it can run its casino without the supervision of the manager,” the NICC spokesperson told AFR. “If they can’t prove they are capable of operating with a conditional licence over the next six months, the manager will be retired, and the doors will close.”
As reported by IAG, Star was last year found unsuitable to hold its NSW casino license after an inquiry uncovered serious failings around its anti-money laundering (AML) and counter terrorism financing (CTF) controls.
However, the company was given the opportunity to return to suitability under the supervision of a Special Manager, whose term was originally due to expire in January.
Star, meanwhile, has found itself battling the state government over proposed tax hikes and awaits the outcome of civil proceedings currently underway by AML watchdog AUSTRAC.
It recently launched another round of fundraising after revealing a net loss of AU$2.44 billion (US$1.57 billion) for the year ended 30 June 2023, largely as a result of regulatory impairments.
Categoría:Casino
Tags: Sin tags
País: Australia
Región: Oceania
Event
Peru Gaming Show 2025
18 de June 2025
Strong return for Amatic Industries at Peru Gaming Show 2025
(Austria).-Amatic Industries has made a remarkable comeback at this year’s Peru Gaming show, which took place from 18 – 19 June. The company’s return to PGS was met with strong interest, positive feedback and promising new business opportunities.
Thursday 26 Jun 2025 / 12:00
Innovation, networking and opportunities: Belatra Games reviews its successful participation at Peru Gaming Show 2025
(Cyprus).- Belatra Games is satisfied with its participation PGS 2025. They achieved new connections, upgraded ideas, and left the show with even stronger intentions to provide quality entertainment on the highest level.
Monday 23 Jun 2025 / 12:00
Successful closing of Peru Gaming Show 2025
(Lima, SoloAzar Exclusive).- With a great attendance and an agenda full of innovation, the 2025 edition of Peru Gaming Show (PGS), one of the most relevant events of the gaming industry in Latin America, came to a successful conclusion.
Friday 20 Jun 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.