NICC hits The Star with fine and suspends Sydney casino licence
The NSW Independent Casino Commission has appointed a manager to enable the Star’s Sydney casino to remain operational while the operator’s licence is suspended.
Australia.- The New South Wales Independent Casino Commission (NICC) has suspended The Star Entertainment’s casino licence in the state. It will fine the casino operator AU$100m and appoint a manager, Nicholas Weeks, until the regulator can determine whether The Start can achieve suitability following matters identified in the Bell Review.
According to NICC chief commissioner Philip Crawford, Weeks will be appointed from October 21 to allow The Star’s Sydney casino can remain operational during the operator’s licence suspension.
Crawford said: “The Star’s current board and executive understand the gravity of Bell’s findings. They have publicly apologised and acknowledged the serious wrongdoing that occurred, and they are willing to co-operate with the regulator.
“The Star’s public communications to shareholders and its submission to the NICC’s show cause notice have demonstrated genuine contrition and a desire to work openly and transparently with the NICC to try to preserve the licence and protect the many jobs that depend on it being operable.
“If it were not for The Star’s change in attitude and our belief that it is in the public interest to protect the thousands of jobs at risk, there might have been a different outcome.”
However, Philip Crawford stressed the appointment of a manager does not mean the NICC believes The Star is suitable to hold a casino licence. He added: “There is a possibility The Star can undertake the reforms necessary to give the NICC confidence it can start a remediation process with a view to becoming suitable.”
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.
Robert Cooke to start as CEO of The Star
Robert Cooke will commence in his role as managing director and chief executive officer today (October 17). Ben Heap, the former executive chairman, has returned to a non-executive role.
Cooke was managing director of Tyro Payments, an Australian fintech providing merchant credit and EFTPOS services, which Cooke successfully led to IPO in 2019. He was also managing director of Wotif.com from 2006 to 2013, where he oversaw several acquisitions and led the business to an ASX listing in 2006.
