Dominic Perrottet Welcomes Hefty Fine Decision For Star Casino
"We have a strong regulator"
Entertainment Group a $100 million in response to an inquiry into its operations.
Mr Perrottet said he didn’t expect for Sydney’s Star Casino’s licence to be renewed until it was complaint.
“We’re not going to have a situation where any corporation in our state does not follow the rules and regulations that are in place,” he said.
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"What today clearly demonstrates is that the processes that we have in place are incredibly strong, that we have a strong regulator and the decision today I welcome.
“My expectation is that obviously the license won’t be renewed until circumstances are in place where they comply, and that’s what they should be doing.”
Last month, The Star Entertainment Group was found unfit to hold a licence for its Sydney casino with the inquiry hearing allegations of money laundering, organised crime links and fraud at the Pyrmont-based casino.
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The NSW Independent Casino Commission (NICC), which led the inquiry, is expected to release further details on Monday.
NICC chief commissioner Philip Crawford following the report’s release said while the majority of the staff were doing the right thing, systemic governance and risk and cultural failures had been found.
"The report is, quite frankly, shocking. It provides evidence of an extensive compliance breakdown in key areas of The Star's business," Mr Crawford said.
"Not only were huge amounts of money disguised by the casino as hotel expenses, but vast sums of cash evaded anti-money laundering protocols in numerous situations, most alarmingly through Salon 95 — the secret room with a second cash cage."
Thirty recommendation were made to Star Entertainment from the report, with the group saying it had taken “significant and urgent remedial steps” to address the issues discovered.
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