It was this response that convinced the NICC that Star was aware of the 'gravity' of the inquiry and would work 'transparently' with the regulator. The company said it had developed a comprehensive, multi-year plan, with 130 milestones to meet over two years, including: In response, the Star Entertainment Group said it had taken 'significant and urgent remedial steps' and would do 'whatever necessary' to 'restore' the casino to suitability.
The inquiry heard allegations of money laundering, organised crime links and fraud at the casino in Pyrmont.
Last month, Star Entertainment Group accepted the findings of an inquiry headed by Adam Bell SC, which included that it was unsuitable to hold a licence for its Sydney casino. It also noted Mr Week's position as manager is to run the casino in a way that is 'broadly consistent with the manner in which the former casino operator operated the casino,' except when it is 'necessary' or 'appropriate' to make changes that will 'address matters identified in the Bell Review.' This afternoon, the Star released a statement to the ASX confirming it will pay the $100 million penalty 'on a timetable yet to be agreed by NICC' and acknowledged its licence 'will be suspended indefinitely.'
