Embattled casino operator The Star is in a “pretty sad state” as the suspension of its Sydney licence is extended and millions of dollars more handed down in fines.The company received a $15 million penalty over four breaches of internal control manuals after a second probe revealed further significant failings, the NSW Independent Casino Commission announced on Thursday.It came two years to the date after the casino first had its licence suspended and was fined $100 million following an earlier inquiry.A review into management at the Star Casino must be completed by the end of the financial year. (Flavio Brancaleone/AAP PHOTOS)Star Entertainment Group had started to clean up its act but huge questions remain around competence and capability, chief commissioner Philip Crawford said.Another extension of its existing Sydney licence suspension and independent manager’s appointment is aimed at protecting employment at the business.”We’ve had in our minds for quite some time that the public interest is served around the jobs,” Mr Crawford told reporters.”If Sydney Star fails, The Star group will fail, and that’s a group that employs 9000-plus people … it would affect the lives of a lot of people.”There’s no coming back if you take the licence away.”The commission will reassess the casino’s suitability to regain its licence at the end of March.Appointed manager Nick Weeks will continue overseeing operations, allowing gaming to continue at least until then.An independent review into governance and management at the casino must be completed by the end of the financial year.Senior management will be “refreshed” in a bid to reset the leadership group, while conditions around the casino’s licence have been amended with more prescriptive requirements about board and key management personnel.The second inquiry revealed internal messaging between former senior executives about getting “ready for war” with the regulator.Mr Crawford said The Star’s chief executive Steve McCann has established a “much healthier relationship” with the commission since his appointment in July.He previously guided similarly besieged casino group Crown Resorts through a takeover, but he would need more help in leadership and management.”He’ll be flat out trying to recruit in a number of key areas for this business, and he needs to,” Mr Crawford said.”Fundamentally, it’s a good business, but it’s in a pretty sad state and it needs to be fixed up.”The significant breaches identified included a major cash fraud against the casino, high-risk patrons not having their source of wealth checked and false welfare checks being logged for potentially vulnerable customers.The licence was first suspended after damning evidence of anti-money laundering and counter-terrorism failings were highlighted in the 2022 inquiry.Both NSW inquiries were led by senior counsel Adam Bell.Mr Weeks is also overseeing The Star’s Queensland casinos under a government remediation plan, with a decision about licences for the casinos in Brisbane and on the Gold Coast due in December.Star shares were suspended from trade after its financial year report was not filed by the end of August and prices tumbled again when they resumed trading in late September, reaching a record low.Shares were placed in a trading halt on Thursday as the company digested the commission’s decision.The Star has been contacted for comment.National Gambling Helpline 1800 858 858
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