The NSW Independent Casino Commission (NICC) has extended the suspension of Star Sydney’s casino licence until March of next year. The initial suspension was enacted in 2022 following findings of criminal activity and money laundering failings within the casino’s operations. The Star Entertainment Group operates casinos and entertainment facilities. The group is focused on providing gaming, entertainment, and hospitality experiences.
Star Sydney has been operating under the supervision of an independent manager, Nick Weeks, since the suspension. Weeks will continue in his role until March 31, unless his tenure is terminated sooner. The extension indicates that the NICC requires further demonstration of improved compliance and governance before considering the reinstatement of the licence.
Star chief executive Steve McCann has publicly recognised the ongoing work required to satisfy regulators and regain the licence. He affirmed The Star’s commitment to maintaining a transparent and constructive relationship with the manager, the NICC, and the NSW government. McCann emphasised the company’s dedication to proving its suitability as a licence holder to all stakeholders.
Beyond the licence suspension, McCann is awaiting a penalty from AUSTRAC for historical breaches of anti-money laundering and counter-terrorism financing laws. Additionally, he is currently unable to sign off on audited accounts due to an ongoing dispute with lenders regarding debt covenants. Shares in The Star were trading at 95 cents mid-morning.
