Last week, on the day Star was to report results, a NSW Independent Casino Commission (NICC) appointed lawyer found Star has been slow to address the governance and cultural issues identified in their 2022 report. (Reporting by Rishav Chatterjee in Bengaluru; Editing by Savio D'Souza) The company's future hangs in the balance after an inquiry found the casino operator had been going through issues around its leadership and culture, and that it remains unfit to operate its Sydney casino.

The Star's 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. Sept 4 (Reuters) - Australia's Star Entertainment is working with various financial advisers to finalise its fiscal 2024 results, it said on Wednesday, as the embattled casino operator remains under scrutiny for governance and cultural issues.

But the NSW government has ruled out providing further taxpayer assistance to The Star after giving the casino a reprieve on a planned poker machine tax increase until 2030 in return for a transitional deal that included a jobs guarantee. "The notice relates to four significant breaches detailed in the second Bell Report, including one that resulted in a cash fraud against The Star, a failure to run source of wealth checks on hundreds of members flagged as high risk, and fraudulent guest welfare entries that put already vulnerable customers at higher risk of harm," the commission said in a statement.

A week on from the release of a scathing report that declared it was unsuitable to take back control of its lucrative Sydney casino licence, the company's board confirmed it was in talks over its short-term financial position "in light of adverse trading and other conditions". "We want to make sure taxpayers receive the full dividend from this project, but the fact is we won't receive that dividend if the Queen's Wharf Brisbane closes and 1400 people lose those jobs," he said on Thursday.

The Sydney licence had first been suspended when an 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. If you adored this information and you would such as to obtain additional information pertaining to SBFPLAY99 kindly browse through our own site. "The Star is currently reviewing its financial and liquidity position with various advisers in the context of seeking to finalise its preliminary financial report for the financial year," the statement said.