{"id":28198,"date":"2022-03-18T07:17:32","date_gmt":"2022-03-18T10:17:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28198"},"modified":"2026-04-23T10:25:06","modified_gmt":"2026-04-23T13:25:06","slug":"star-shares-plunge-amid-ilga-inquiry-into-sydney-casino","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/star-shares-plunge-amid-ilga-inquiry-into-sydney-casino","title":{"rendered":"Star shares plunge amid ILGA inquiry into Sydney casino"},"content":{"rendered":"\n<p>The Star Entertainment Group shares have fallen to their lowest in 17 months following the start of the ILGA&#8217;s public hearing into The Star Sydney.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Australia.- A day after the New South Wales Independent Liquor &amp; Gaming Authority (ILGA)\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/star-deputy-treasurer-misled-national-australia-bank-inquiry-hears\" target=\"_blank\">started a public hearing<\/a>\u00a0as part of The Star Casino\u2019s licence review, Star Entertainment Group shares have fallen to their lowest in 17 months.<\/p>\n\n\n\n<p>Shares in the company fell as much as 7 per cent by 11:40 am local time before falling 2.9 per cent to $3.215. That&#8217;s the lowest level since October 2020 and reduces the group&#8217;s market value to AU$3bn (US$2.22bn).<\/p>\n\n\n\n<p>The New South Wales regulator asked\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/counsel-says-crown-resorts-unsuitable-for-licence\" target=\"_blank\">Adam Bell SC<\/a>, the counsel that assisted New South Wales\u2019 inquiry into <strong>Crown Resorts<\/strong>, to conduct a review on Star Casino last September. The decision came after the inquiry into Crown Resorts found it unsuitable to hold a licence for its Crown Melbourne casino, although the operator was allowed to keep its licence under stricter conditions.<\/p>\n\n\n\n<p>On Thursday, the first day of public hearings,&nbsp;<strong>Paulinka Dudek<\/strong>, deputy treasurer of the Star Group admitted that she misled National Australia Bank about the use of a China UnionPay card at Star Entertainment venues.<\/p>\n\n\n\n<p>The inquiry heard that\u00a0<strong>around AU$900m was processed on the CUP cards<\/strong>\u00a0before CUP terminals in Star venues were disabled in 2020.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Star Entertainment Group shares have fallen to their lowest in 17 months following the start of the ILGA&#8217;s public hearing into The Star Sydney.<\/p>\n","protected":false},"author":176,"featured_media":15107,"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 Entertainment Group's shares have significantly declined following the commencement of the ILGA's public hearing into The Star Sydney's casino license suitability. This inquiry, prompted by a review initiated last September, has revealed an admission of misleading National Australia Bank regarding the processing of AU$900m via China UnionPay cards at Star venues.","focusai_entities":"The Star Entertainment Group, ILGA, The Star Sydney, New South Wales Independent Liquor & Gaming Authority, The Star Casino, National Australia Bank, Crown Resorts, Adam Bell SC, Paulinka Dudek, Star Group, China UnionPay","focusai_location":"Australia, New South Wales, Sydney, Melbourne","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (0.95), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"ILGA Inquiry Scope","query":"What specific governance failures and internal control deficiencies did the ILGA inquiry identify that led to the misleading of National Australia Bank regarding China UnionPay transactions?"},{"label":"Market Impact Analysis","query":"Beyond the immediate share price decline, what are the projected long-term financial and operational impacts on The Star Entertainment Group, considering potential fines, license conditions, and brand reputation?"}],"footnotes":""},"categories":[16336,157,158],"tags":[229,23871],"class_list":["post-28198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-gambling","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28198","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=28198"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28198\/revisions"}],"predecessor-version":[{"id":28205,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28198\/revisions\/28205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15107"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}