The Star Sydney faces potential closure if it fails to regain license in 6 months

The Australian casino operator Star Entertainment Group Ltd. may shut its flagship Sydney casino if it does not regain its license in the next six months.

The license was suspended indefinitely on October 21, the previous year, and the state government took possession of it in addition to imposing a fine of AUD $100 million (US $65.8 million).

The Star has been given a deadline of six months by the Independent Casino Commission of New South Wales (NICC) to demonstrate that it is capable of operating the casino on its own.

The NICC representative expressed dissatisfaction with The Star’s efforts to reverse the license suspension and let the casino to run independently. The government-appointed manager overseeing gaming operations at The Star will depart at the end of the next six months if the casino cannot prove it can continue to operate under a conditional license.

The Star’s gaming license in Sydney was revoked in response to a regulatory investigation that was released in September 2022 and included harsh allegations. The Star’s New South Wales license was deemed “unsuitable” by the report, written by attorney Adam Bell, after a lengthy public examination.

This latest event is the first indication to the public that the state regulator may decide to shut The Star Sydney’s casino operations. The company said last month that, with the intention of this being the last extension, the NICC has extended the term of the government-appointed manager in charge of gaming operations until June 30, 2019.

In order to address regulatory concerns, The Star has been reorganizing its compliance structure and replacing its CEO and board of directors. Additionally, the company’s casino licenses in Queensland have been revoked, and the locations are now under state government supervision. The special manager’s term at The Star Gold Coast and Treasury Brisbane casinos has been extended by one year, until December 8, 2024, although the Queensland regulator has approved The Star’s rehabilitation plan.

The Star is also working on the Queen’s Wharf Brisbane proposal, which calls for the construction of a third casino in Queensland, in conjunction with the Hong Kong-based businesses Chow Tai Fook Enterprises Ltd and Far East Consortium International Ltd. The new location is expected to open gradually starting in April 2024.

Original story by: GGRAsia