The casino giant stares down licence suspensions in Queensland amid a second grilling in NSW,tied to tightly held reforms partially obtained by Brisbane Times.
The Star Entertainment Group released a swath of documents beyond deadline and after the former chief financial officer had alleged the business had tried to cook the books.
The management of Sydney’s Star casino continues to labour under the delusion it can treat the authority charged with regulating the industry with contempt.
Former chief financial officer Christina Katsibouba has made a series of allegations about the company’s failure to be transparent with investors and other executives regarding its financial position.
The Star’s special manager has accused the company of extensive compliance breaches including widespread falsification of welfare checks and a failure to stop casino customers from getting $3.2 million in company money.
Once,cases like this would only play out in the courtroom,with very little capacity for the public to see how the sausage is made.
Rate-sensitive sectors including consumer stocks dragged the local sharemarket lower,despite a US equities rebound overnight following its steep sell-off.
Big spenders are steering clear of Star Entertainment Group’s three casinos,as the company’s former and current senior executives prepare to front another public inquiry.
The second inquiry into the culture at Star Entertainment Group will commence next Monday,with the fate of the casino group in balance for the second time in two months.
Star Sydney’s current and former executives are about to be hauled before Adam Bell,SC,for a second time in 18 months – and the stakes are high.
The once sleepy NSW casino regulator has transformed itself into a compliance head kicker,with its target,the financially battered Star,once again thrown into chaos.