Like Crown Resorts, Australia’s other major casino operator with properties in multiple states, The Star was found unsuitable to hold gaming licences in two states in 2022, due to failings in its anti-money laundering and counter financial terrorism processes. The group has two casinos in Queensland, alongside The Star Sydney in NSW.
The Star submitted a remediation plan to the Queensland regulatory bodies earlier this year, outlining roughly 640 milestones across 15 different areas, to be worked through over several years, which The Star believes would return it to suitability.
The Queensland Government announced last week that the draft plan has been approved by Queensland’s Attorney-General, Yvette D’Ath. The state government also advised that proposed suspensions for The Star Gold Coast and Treasury Brisbane had been delayed until May 31, 2024, while the special manager appointed to oversee The Star’s return to suitability at its Queensland properties will remain in place for another year, until December 8, 2024.
“The Star’s remediation and return to suitability to hold a casino licence will not be simple or quick and requires cultural change across the organisation,” said D’Ath.
“[This] announcement strikes the right balance between making sure The Star operates lawfully, ethically and in a way that enhances integrity, while also prioritising public confidence and local jobs.”
Given The Star operates significant luxury accommodation and event space at The Star Gold Coast and is months from opening The Star Brisbane in the $3.6 billion Queen’s Wharf, which will also feature one of the largest ballrooms in Brisbane, progress by The Star in returning to suitability is good for the business events industry.
The Star’s CEO and managing director Robbie Cooke said the business was pleased to have their remediation plan approved.
“It’s an important step on our path to returning to suitability in Queensland and will track and hold us accountable throughout the multi-year program we are committed to delivering,” he said.
“At the same time, we are fully aware that successful implementation of the Remediation Plan will require the utmost rigour and discipline.
“We need to regain the trust and confidence of all our stakeholders and communities and continue to have an unwavering focus on transformation.
“That comes from a clear understanding that holding casino licences is a privilege, not a right.”
