The Star Entertainment Group has announced that the New South Wales Independent Casino Commission (NICC) does not approve of the company hiring its own independent monitor for its flagship casino in Sydney.
According to new licensing conditions as result of an NICC report into its business affairs, Star Sydney must operate under the guidance of an independent monitor. The position is currently held by Nicholas Weeks who was appointed by the NICC following the suspension of the company’s casino license in NSW and the subsequent AU$100 million fine.
Star Group released a statement on Thursday saying that it had hired Allen & Overy Consulting (A&O) to assist with monitoring and assurance services ‘in relation to management’s progress in implementing disclosed remediation actions’. However, the same press release also stated that the NICC would not endorse its appointment of A&O.
A&O’s appointment was made by The Star Board for its own purposes to monitor progress in implementing remediation actions by The Star’s management.
Based on information received from the Manager of The Star Sydney Casino, The Star understands that The NSW Independent Casino Commission (NICC) does not endorse the appointment of an independent monitor at this time and as such A&O’s appointment is not made nor endorsed by the NICC .
The Star continues to fully cooperate and work with the Manager as he manages the operations of the Sydney casino as announced on 17 October 2022
According to the suspension conditions, as independent monitor Weeks assumes full control of the casino and is considered the license holder until such a time as the suspension is lifted or a new monitor is appointed.
The company could also lose its license to operate in Queensland in the near future as an inquiry is still underway into Star’s suitability to hold a license in the state.
Image credit: Maksym Kozlenko / CC BY-SA 4.0