According to the announcement from The New South Wales (NSW) Independent Liquor and Gaming Authority, the investigation will begin into Sydney-based Star Casino following concerns about its money-laundering prevention guidelines and dealings with junkets. The NSW Authority investigation into The Star will examine how the casino has complied with the 2019 Casino Control Regulation and the 1992 Casino Control Act. Compliance with legal and licensing agreements between the NSW Authority and The Star will also be examined.
The NSW authority will be focused on the evidence which The Star gave on the 4th of August 2020, prior to when Bergin began an inquiry into Crown Resorts (The Star Casino’s rival resort operator). It was stated in the evidence that The Star was working with junket operators continually; this had been a primary source of the inquiry into Crown Resorts. The investigation had ordered Crown Resorts to stop dealing with the businesses. Crown Resorts is not new to these types of investigations as it recently got another lawsuit from a gambling addict.
More Information brought into Light
The NSW Authority discovered in May 2021 that The Star Casino continued to interact with these junkets until at least October 2020. It also considered The Star’s dealing with Suncity, a renowned junket operator, among others. The NSW investigation will determine if there is any wrongdoing as it will cover many operation areas, including The Star’s anti-money laundering measures and bank account management. This implies that deposits from VIP patrons and overseas, credit withdrawal methods from The Star Casino’s bank accounts and transaction receipts’ maintenance will all be examined.
Similarly, the investigation will assess the existing money laundering detection scheme for adequacy. It will also cover the responsibilities of staff in the casino to analyze the casino’s core values, examine international patrons and VIP management, and detect any loan sharking or money lending. The Star’s security measures will not be left out of the inquiry as they will also be scrutinized while facial recognition technology, surveillance facilities and execution of exclusion orders will also be examined.
Similarities Between Bergin and Star Inquiries
The Bergin Inquiry and the investigation by NSW Authority into The Star are somewhat similar. The NSW Authority launched the Bergin Inquiry to how sustainable Crown Resort is in operating a casino in Central Sydney (Barangaroo precisely). The inquiry began after Melco, an Asian gaming giant, agreed to the purchase of a 19.99 per cent stake in CPH Crown Holdings for 1.76 billion Australian dollars (1.19 billion US dollars/ 1.06 billion Euro/ 981.9 million pounds) in May 2019. Through the inquiry, organized crime and money laundering practices were uncovered at the Melbourne-based proprietary Crown Casino. Crown Resorts was ordered to pay 22.5 million Australian Dollars (17.3 million dollars/ 14.4 million Euros/ 12.4 million pounds) as a penalty for the investigation in addition to a Casino Supervisory Duty, which is due annually.
The Bergin inquiry prompted the NSW Authority to implement some new reforms, one of which included the formulation of plans towards creating a new independent casino regulator. The report from the Bergin Inquiry also gave rise to 2 new inquiries at the state level into Crown’s existing license. Daniel Andrews, Premier of Victoria state, announced a royal commission to determine whether to grant Crown Melbourne a Victorian license so that it can operate its flagship entertainment resort and casino. Currently, the Western Australia government is investigating the suitability of Crown Resorts to host a casino in Perth. The government has extended the investigation to March 2022.
Australian Gambling: Australia has long been cracking down on gambling with new rules in an attempt to control one of the world’s largest markets. The Crown Casino saga is just one of many stories coming out of Oceania. The current scope of the government’s war on gambling stretches across Australian online and live casinos, online sports betting and gambling on pokies either in specialist slot shops or via online gambling websites. Our news team keeps regular tabs on what’s happening down under so you can stay up to date with new developments as and when they happen.