Star Entertainment Group is “not suitable” to have a license for its Sydney casino, according to a public investigation.
Key points:
- The final statements have been heard in an investigation investigating the crime at the Pyrmont casino.
- Recently, several executives have resigned from Star Entertainment Group
- The publicly available result will be published in late June.
NSW Gaming Regulator Investigation Investigates Business Suitability to Manage Pyrmont Casino
Several senior executives have resigned throughout the investigation, which has heard allegations of money laundering, fraud and criminal infiltration into the casino.
The lawyer who attended the investigation, Naomi Sharp SC, made a scathing assessment of the casino’s proceedings on Tuesday.
This included “unethical behavior” within the legal team, a VIP team that “was not properly supervised” and “very serious flaws” in risk management frameworks.
He said responsibility for the failures went “up to the board”.
Matt Bekier said his resignation was the right one. (AAP: Dan Peled)
In late March, CEO and CEO Matt Bekier resigned from Star’s board, alleging that he wanted to take “responsibility” for the misconduct discovered in the investigation.
But Ms Sharp questioned whether the executive’s departure would allow The Star to continue operating.
“It is not enough to put a corporation in order simply to terminate employment or divide the company with a higher number of officers,” he said.
“There is more to the question of suitability than specific individuals within the corporation.”
Ms. Sharp urged Adam Bell SC, who leads the investigation, to have a more “nuanced” view of corporate responsibility.
Adam Bell SC will deliver the final verdict. (Supplied)
“Leaders of the organization must be taken into account, but also placed in the broader context of government, risk management and the general culture of the corporation.”
Ms Sharp said that while there was no evidence of eligibility for a casino license, the guidelines set out during the Bergin and Finkelstein consultations on Crown Casino provided useful guidance.
He said casino operators should obey the law, act honestly, deter illegal and immoral behavior, not exploit players, take active action to minimize the damage caused by gambling, and cooperate fully with gambling. regulators.
There had been a “shortcoming” in relation to a number of code requirements in The Star, Ms Sharp said.
President John O’Neill, CFO Harry Theodore, casino director Greg Hawkins and legal and risk director and company secretary Paula Martin have resigned in recent weeks.
Sharp said that given the large number of executives who have resigned, “there is no need to draw conclusions about their suitability.”