Star Sydney will face a review to establish whether it is suitable to continue operating and is complying with statutory obligations.<\/p>\n\n\n\n\n\n\n\n
Australia.-\u00a0The Crown Resorts scandal<\/a>\u00a0has put the Australian casino industry in the spotlight and regulators are taking a closer look at all casino operations<\/strong>\u00a0across the country. <\/p>\n\n\n\n The NSW Independent Liquor & Gaming Authority (ILGA)<\/strong>\u00a0has now asked Adam Bell SC<\/a>, the counsel assisting the NSW inquiry into Crown, to conduct a review into The Star Sydney.<\/p>\n\n\n\n The review, required by the Casino Control Law, will decide\u00a0whether The Star Sydney is working inside the limits of consistency. <\/strong><\/p>\n\n\n\n Philip Crawford<\/strong>, ILGA chair, said that Bell’s experience and deep understanding of the current casino landscape will be invaluable for the role. Bell will share the results of the investigation to the New South Wales regulator by late\u00a0January 2022.<\/strong><\/p>\n\n\n\n The Star said\u00a0it will fully cooperate with the review\u00a0<\/strong>and any requests for information and documents. The last review of Star was conducted by Dr Horton QC and was completed in 2016.\u00a0<\/p>\n\n\n\n Star Entertainment Group<\/strong> has shared financial results for its fiscal year, reporting revenue of AU$1.56bn<\/strong> with a statutory EBITDA of AU$427m, up 51 per cent.<\/p>\n\n\n\n Its\u00a0Queensland venue<\/a>\u00a0saw record earnings from domestic gaming revenue amid Covid-19 restrictions that materially impacted revenues and earnings. Star Sydney<\/a>, which closed on June 25 and remains shut, saw a\u00a0decline in gross revenue of 30 per cent to AU$832m<\/strong>, with a 96 per cent decline in VIP and a 10 per cent decline in domestic revenues.<\/p>\n\n\n\n The Gold Coast property <\/strong>saw gross revenue fall 28 per cent year-on-year, including a 100 per cent fall in VIP revenue while domestic revenues were up 26 per cent. Domestic gaming revenue at Star Gold Coast was also up 18 per cent in the second half.<\/p>\n\n\n\n Star Brisbane recorded a 38 per cent growth in domestic revenue<\/strong>. The figure was up 3 per cent year-on-year despite shutdowns in January, March and June. Group slots revenue for the second half <\/strong>was up 4 per cent.<\/p>\n\n\n\n According to its financial report, the casino operator will be focusing on international premium mass<\/strong> and direct premium customers once borders reopen. <\/p>\n","protected":false},"excerpt":{"rendered":" Star Sydney will face a review to establish whether it is suitable to continue operating and is complying with statutory obligations.<\/p>\n","protected":false},"author":176,"featured_media":22616,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Star Sydney is undergoing a suitability review by the NSW Independent Liquor & Gaming Authority (ILGA), led by Adam Bell SC, to ensure compliance with statutory obligations, a direct consequence of heightened regulatory scrutiny post-Crown Resorts. This occurs as Star Entertainment Group reports AU$1.56bn revenue for FY21, with significant declines in VIP revenue at Star Sydney and Gold Coast, offset by growth in domestic gaming across its Queensland properties amidst COVID-19 impacts.","focusai_entities":"The Star Sydney, Star Entertainment Group, Crown Resorts, NSW Independent Liquor & Gaming Authority (ILGA), Adam Bell SC, Philip Crawford, Dr Horton QC","focusai_location":"Australia, New South Wales, Sydney, Queensland, Gold Coast, Brisbane","focusai_target_profile":"ceo_executive (0.95), regulator (1.0), compliance_legal (0.95), operator_casino (0.9), marketing_crm (0.7), payments_fraud_aml (0.75), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Review Impact","query":"What specific governance framework deficiencies or statutory obligation breaches are under scrutiny in Adam Bell SC's review, and what are the potential ramifications for The Star Sydney's B2C licensing continuity?"},{"label":"Financial Performance Outlook","query":"Given the significant decline in VIP gross revenue and the growth in domestic gaming, how will Star Entertainment Group's capital allocation and operational strategy pivot to optimize NGR from international premium mass post-border reopening?"}],"footnotes":""},"categories":[16336,156,158],"tags":[23911,23728,23871],"class_list":["post-22608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","category-slider-home","tag-gambling-regulation","tag-ilga","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22608"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22608\/revisions"}],"predecessor-version":[{"id":22627,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22608\/revisions\/22627"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22616"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Star Entertainment posts revenue of AU$1.56bn for FY21<\/h2>\n\n\n\n