The Australian leader has turned down requests for a nationwide gambling oversight body after the exposure of a controversy involving Star Entertainment Group.
When questioned about gambling rules following the release of the Bell Report, the Prime Minister stated that the steps taken by New South Wales thus far demonstrated that states could be relied upon to control the sector. The report, published on Tuesday, concluded that Star Entertainment Group was not fit to hold a casino permit in New South Wales due to a series of anti-money laundering and social responsibility shortcomings at its Sydney Star casino.
Independent representative and anti-gambling advocate Andrew Wilkie has spearheaded calls for a nationwide investigation into the industry and its operators. He asserted that the findings of the Bell Report were “not unexpected” and pointed to “deeply ingrained cultural and systemic issues” within the company.
Star Entertainment Group now has two weeks to respond to the report’s conclusions. The New South Wales Independent Casino Commission (NICC) – which was formed after the release of the Bergin Report into Crown Sydney – stated in a notice to the group that it could revoke or suspend its permit and impose a penalty of up to A$100 million.
In my view, the state authorities are performing well, they are ensuring that the casino operators are responsible,” he stated.
“I disagree with regulation simply for the sake of regulation. I believe it’s difficult to argue that Crown or Star Entertainment aren’t currently being held responsible.”
When questioned about whether the authorities currently possess sufficient authority, he replied: “These are state-run authorities, it’s the responsibility of the states to address this. However, it’s evident that we’ve witnessed the authorities adopt a firm stance and are indicating further stringent action.”
The Bell Report – published last year – exposed a series of wrongdoings, including successfully circumventing Chinese capital outflow laws by deceptively reclassifying gambling expenditures as hotel expenses on China UnionPay (CUP) cards and misrepresenting these payments to banking institutions. The report also discovered that SEG permitted an entity potentially associated with organized crime to operate cages at its Star Entertainment casino, as well as providing false information to and withholding documents from the state authority – the Independent Liquor and Gaming Authority.
The newly formed National Casino Regulatory Commission (NICC) has been entrusted with the responsibility of determining the nature and form of disciplinary action taken against casinos. The NICC is a newly established statutory body that has assumed the ILGA’s regulation of the casino industry.
SEG revealed in a public statement that they are presently examining the matters brought up in the Bell Report and NICC alert.
Nawal Silfani, a seasoned legal professional and corporate governance specialist, was named as the company secretary by SEG on Tuesday.
Keep abreast of the most recent iGaming developments.