Regulator Keeps The Star Sydney’s Casino Licence Suspended until September

The Star Entertainment Group’s Sydney casino cannot operate until at least September 30, 2025, based on what the New South Wales Independent Casino Commission (NICC) has decided. The watchdog said the company still had financial problems, which is why they needed to keep an eye on things even though they saw the company was trying to fix its issues.

The Star’s Compliance Efforts Acknowledged, but Financial Woes Delay Licence Reinstatement

The NICC suspended The Star’s Sydney casino license in October 2022. This came after an inquiry exposed serious compliance issues, including links to controversial junket operators and lapses in financial controls. Since then, the casino operator has begun a thorough cleanup process. NICC-appointed manager Nicholas Weeks has overseen operations. His role, set to end on March 31, will now last another six months to maintain regulatory oversight.

The NICC asked for input from both The Star and Weeks to assess if the company should keep its casino license in New South Wales. The Star agreed that ongoing supervision was needed and supported keeping the manager in place while they work to steady their finances.

NICC Chief Commissioner Philip Crawford pointed out that The Star had made steady progress in its compliance efforts. However, worries about its financial health still posed a major obstacle. He stressed that the upcoming six months would play a key role in deciding if the company could get its license back. During this time, The Star must keep putting reforms into action while tackling its financial problems.

The Star’s Future Uncertain Despite Emergency Funding and Compliance Efforts

The Star has been under growing financial strain. In early March, it got an AU$53 million ($33.4 million) emergency cash boost by handing over its Brisbane casino operations to a Hong Kong-based investment group. This move was needed to avoid possible bankruptcy and shift funds to manage debt and meet regulatory standards.

Despite the challenges, The Star Entertainment Group’s CEO and Managing Director, Steve McCann, thanked the NICC for noticing the company’s improvements. He stressed The Star’s dedication to meet its remediation duties and work to get its casino licence back.

The Star can still run its gaming areas under Weeks’ watch even though its licence remains suspended. However, to restore it, the company must show it is stable and keeps following the rules in the coming months.

The next check-up is set for September 2025. Until then, The Star Sydney’s casino future remains unclear. It depends on both making money again and finishing its fix-up plans successfully.