Following an independent enquiry on Monday it was announced during a press conference that Star Entertainment Group has been fined a record penalty allowed of AUS$100m  (€64.4 million) for failing to prevent money laundering and criminal activity in the state of New South Wales (NSW), Australia.

The New South Wales Independent Casino Commission (NICC) issued the casino operator with an indefinite suspension for its NSW licence from 21st October. In a letter to Star, the regulator said that by suspending the licence, rather than outright cancelling it, the company may be able to take remedial action, and may be able to resume legal gambling activities in the state. In order to protect employees’ jobs, the regulator appointed Nicholas Weeks to manage the casino, allowing it to remain operational during the period of licence suspension.

In June of this year, Robbie Cooke was appointed CEO of Star Entertainment after five years as Managing Director of Tyro Payments. The decision by the regulator comes on Mr Cooke’s first day in his new role at Star Entertainment.  

Star halted trading its shares on the Australian stock exchange. The Casino operator has pledged to “do everything in [its] power” to regain its licence and the trust of the community. Earlier this month Star Entertainment’s three casino operations in Queensland were also declared unsuitable to continue trading by the regulator. Matt Beiker, previous CEO at Start Entertainment resigned recently blaming “the casino for failing to clamp down on money laundering” he stated in an interview with ABC News.

Featured Image:

LinkedIn Photo

Continue Reading

Latvian delegation hails MGA workshop as ‘useful exchange of experiences’

9 December 2022
by iGamingCapital.mt

The Latvian delegation was provided with an overview of the MGA’s organisational structure, the role and responsibilities of the various functions, and how they work together to contribute to the Authority’s overall strategy

Shaking up payments solutions for iGaming clients

7 December 2022
by iGamingCapital.mt

FinXP CEO Jens Podewski highlights the company’s latest steps in providing a reliable, practical alternative to traditional banking

Push Gaming boosts Romania presence with Crowd Entertainment

7 December 2022
by iGamingCapital.mt

This new offering will allow Push’s growing portfolio of player-favourite titles to be played by a significant number of new customers across different platforms

Bingo multiplayer expert END 2 END granted MGA licence

6 December 2022
by iGamingCapital.mt

This latest licence sits alongside the previously secured certifications for several tier-one markets, including Great Britain, Netherlands, Portugal, Denmark, Colombia among others

See more