Allen & Overy Consulting issues first report on The Star
Allen & Overy’s report recommends The Star Entertainment commence its remediation programme to improve risk, compliance and culture.
Australia.- Allen & Overy Consulting, a law firm appointed to monitor the design and implementation of The Star Entertainment’s remediation programme, has issued its first report to the casino operator. The report’s executive summary says that “the Program is sufficiently developed for the TSEG Board to consider commencing the execution phase.”
The report finds that:
- The Program features clear Workstream Problem Statements/root causes, Workstream Target States, and Milestones;
- The scope of the Program is designed to address the root causes identified to date, as well as the overall themes and actions raised in the Bell and Gotterson Reports, acknowledging TSEG intends to investigate potential root causes further as part of the Program;
- TSEG has arrangements in place to govern and oversee Program delivery;
- TSEG has identified individual executives who are accountable for Program design and implementation;
- The overall timeline for the design and implementation of changes proposed under the Program is reasonable for a program of this scale and complexity; and
- TSEG has completed preliminary funding and resourcing forecasts, projecting a significant investment.
A week ago, the New South Wales Independent Casino Commission (NICC) suspended The Star Entertainment’s casino licence in the state. It also fined the casino operator AU$100m and appointed a manager, Nicholas Weeks, until the regulator can determine whether The Star can achieve suitability following matters identified in the Bell Review.
NICC chief commissioner Philip Crawford said Weeks had been appointed to allow The Star’s Sydney casino can remain operational during the operator’s licence suspension.
Queensland’s review of The Star Entertainment Group also found the casino operator to be unsuitable to continue holding a casino licence in the state. Robert Gotterson AO KC reached an open finding in his report but Queensland Attorney-General Shannon Fentiman says the operator is unfit to run its Queensland venues.
