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Gaming & Wagering

Yesterday

Star’s Qld casino licence under threat after damning review

Another damning review into Star Entertainment’s handling of its casinos, this time in Queensland, offers the prospect of massive fines, suspension or loss of its licences.

  • Updated
  • Mark Ludlow and Hannah Wootton

This Month

What’s next for the Star’s ‘highly experienced’ directors?

What will shareholders be asking of outgoing Star directors Katie Lahey, Richard Sheppard and Gerard Bradley?

  • Updated
  • Michael Roddan

September

How the chips will fall for Star and Crown punters

While all looks calm on the floors of Star and Crown, behind the scenes armies of consultants are battling to make changes to save the owners’ casino licences.

  • Hannah Wootton and Elouise Fowler

The Star’s auditor queries small cash pile in face of massive fines

The Star Entertainment Group’s auditors have raised concern the casino outfit may not have enough cash to pay for multi-million dollar fines.

  • Elouise Fowler

Desperate Star’s 130-point to-do list to keep its licence

The group promised “immediate actions” including a cultural overhaul as part of a two-year plan with 130 proposed changes. It hired 53 consultants in financial crime, risk and compliance who started work on Tuesday.

  • Updated
  • Elouise Fowler
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Star interim CEO Geoff Hogg quits

Chairman Ben Heap will step into an ‘executive chairman’ role to cover CEO duties until the replacement arrives.

  • Hannah Wootton and Elouise Fowler

Cash gambling at Crown Melbourne capped at $1000

New Victorian law aims to curb problem gambling and prevent money laundering at Crown Melbourne.

  • Elouise Fowler

Gaming exec pays $62m to buy Tabcorp’s eBet

Former Tabcorp and Tatts Group executive Frank Makryllos is getting back into the gaming venue technology sector via the acquisition of Tabcorp’s eBet. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood

America has its gun madness, but Australia has the pokies

You can lose money through gambling in Australia faster than almost anywhere else in the world.

  • Tanveer Ahmed

Why analysts are backing Star

Analysts expect the NSW casino watchdog to give Star a shot at redemption like rival Crown Resorts, despite Star’s more egregious misconduct.

  • Elouise Fowler

Eleven days: shooting Star’s date with destiny

Regulators may impose severe penalties on The Star for its serious misconduct without going for the nuclear option of cancelling its Sydney licence permanently.

  • Elouise Fowler and Lucas Baird

Regulator may vet Star Sydney’s earnings

The act says that once a manager is appointed, “no payment of net earnings” from the casino is to be made to the normal licence holder without prior approval.

  • Lucas Baird and Elouise Fowler

Casino investors should share in dirty money risks

Shareholders in such a heavy-regulated industry as casinos ought to bear some of the risk that their agents – board members and top management – breach their licence requirements.

  • The AFR View

Contrite Star interim chairman pledges sweeping reform

Interim chairman Ben Heap promises an overhaul to win back the confidence of the regulator.

  • Updated
  • Elouise Fowler and Lucas Baird

Crown taps Macau executive to run Sydney casino

Crown Resorts has appointed Mark McWhinnie to run Crown Sydney’s casino, restaurant and hotel.

  • Elouise Fowler
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Why has no one at Star been charged with money laundering?

Readers of the Bell inquiry into Star Entertainment, and the earlier reports into Crown Resorts, should ask one question: why has no one been charged?

  • Tony Boyd

Star could face $100m penalty to keep licence

Macquarie analysts expect Star Entertainment to retain its Sydney casino licence subject to remediation and penalties of up to $100 million.

  • Hannah Wootton and Elouise Fowler

Lawyers’ actions exacerbated Star’s woes

The Bell inquiry into Star Entertainment includes a timely case study of the need for in-house lawyers to act well beyond the narrow interests of the corporation.

  • Tony Boyd

Star ex-chief must ‘bear significant overall responsibility’: Bell

The Star’s former managing director and chief executive officer Matt Bekier must shoulder the lion’s share of blame, the inquiry found

  • Elouise Fowler and Hannah Wootton

Inquiry finds Star unfit to hold licence

Star Entertainment has two weeks to show cause why it should not lose its lucrative NSW casino licence or face a massive fine.

  • Updated
  • Hannah Wootton, Lucas Baird and Elouise Fowler