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Shares in the company were placed in a trading halt on Friday because of the public release of the findings from a damning inquiry into a litany of failures within the billion-dollar gambling firm’s operations. Its Sydney licence remains suspended after a first inquiry found damning evidence of anti-money laundering and counter-terrorism failings, although it has been allowed to keep the casino operating with a regulator-appointed manager. But the second Adam Bell-led inquiry declared in its report the period since the last findings in 2022 had been “marked by lost opportunities and missteps”, including four significant compliance breaches.
It showed “systemic and extremely serious issues” involving multiple Star staff falsifying records to suggest they had intervened in players’ extended gambling stretches when no interaction had taken place. The NSW regulator’s chief commissioner, Philip Crawford, said the latest Bell report validated concerns that prompted the second inquiry, highlighting a company that had not moved fast enough to address previously aired governance and cultural issues.
