The Star Entertainment Group, facing scrutiny following regulatory and investigative concerns, has been granted a six-month extension by the Queensland government to demonstrate its fitness to operate its Brisbane and Gold Coast casinos.
This extension follows the government’s imposition of an AUD 100 million ($66 million) fine on the casino giant last December, with a mandate to rectify its operations following a comprehensive review. This move, in turn, followed an investigation in 2021 by a leading Australian publication into alleged criminal activities within its Sydney casino.
Originally facing a looming deadline set for next Friday, The Star Entertainment Group now has until May 31 to showcase its capability to manage both the under-construction Queen’s Wharf project and its existing Gold Coast casino.
Failure to meet the requirements could result in a 90-day suspension of its Queensland gaming license. Recently, The Star informed the Australian Stock Exchange of the Queensland Attorney-General Yvette D’Ath’s approval of its 640-point remediation plan.
D’Ath emphasized that the remediation plan is just the beginning of a long process for The Star, noting that failure to comply with the agreed it would make Star liable for further disciplinary action. “There is certainly evidence that they are changing from the top down, but it is still very early days,” she said.
The Queensland government’s commitment to addressing the findings of the Gotterson review, which accused Star of misleading regulators and compromising the safety of excluded gamblers, remains a significant driver for the stringent oversight.
Furthermore, the government’s appointment of special manager Nicholas Weeks has been extended for another 12 months, ensuring oversight and management of the remediation plan’s implementation.
Robbie Cooke, the CEO and managing director of The Star
Robbie Cooke, the CEO and managing director of The Star, expressed satisfaction with the approval of their remediation plan in Queensland, emphasizing the company’s commitment to adhering to the rigorous process ahead.
“It’s an important step on our path to returning to suitability in Queensland and will track and hold us accountable throughout the multi-year program we are committed to delivering,” he said.