ILGA public hearings into The Star Sydney to start next week
The New South Wales Independent Liquor & Gaming Authority (ILGA) has confirmed that public hearings will start next week as part of The Star Casino’s licence review.
Australia.- The New South Wales regulator, the Independent Liquor & Gaming Authority, has confirmed that it will carry out a series of public hearings on The Star Sydney from Thursday March 17. Last September, the regulator asked Adam Bell SC, the counsel assisting New South Wales’ inquiry into Crown Resorts, to conduct the review.
Bell will share the results of the investigation with the New South Wales regulator by late June 2022.
ILGA chair Philip Crawford said: “Mr Bell’s review will consider how effectively The Star is complying with its statutory obligations and whether it remains suitable to hold a casino licence.”
He added: “This includes examining to what extent the casino is free from the infiltration of criminal interests such as money laundering and how well it is administering its obligations to minimise gaming harms.
“The Star is responsible for ensuring adequate anti-money laundering and counter-terrorism financing systems are in place and for thoroughly vetting and managing relationships with close associates, junket partners and high rollers.”
Star Entertainment won’t match Blackstone’s Crown Resorts offer
Matt Bekier, Star’s CEO, has said the company does not plan to match an improved AUD8.9bn (US$6.36bn) offer from private equity group Blackstone, which has been unanimously approved by Crown Resorts.
Bekier confirmed that Star Entertainment was not prepared to pay such a high price for Crown Resorts’ assets, especially given the regulatory action against the operator and the lack of synergies.
