Damaging evidence in Sydney may have claimed the scalp of Star Entertainment boss Matt Bekier, but Queensland is yet to decide if it will follow NSW and hold a public inquiry into the company’s Brisbane and Gold Coast operations.
A public review into the multibillion-dollar casino empire on Monday forced the resignation of Mr Bekier, as questions fly around alleged money laundering activity and the Star’s suitability to hold a casino licence in Sydney.
But the Queensland Office of Liquor and Gaming Regulation says it is – for now – content to wait and watch the progress of the NSW inquiry before considering extra action.
Star Entertainment runs the casino at Pyrmont in Sydney and is increasingly turning its focus north of the border via The Star Gold Coast and The Treasury in Brisbane, while it is also developing the $3.6bn luxury Queens Wharf accommodation project in the heart of the Queensland capital.
The company has been celebrated by successive Queensland governments for its contribution to the state’s tourism sector.
But the rolling inquiry in Sydney could yet see further boardroom renewal, and even prompt regulatory action akin to the fallout seen at rival Crown Casino.
The NSW-led probe – announced in October last year – has so far heard several pieces of damning evidence against Star that suggest substandard monitoring and accountability measures when it comes to accepting money.
This includes claims Star Entertainment allegedly disguised $900m worth of Chinese debit card gambling transactions as hotel expenses, and then lied to lenders in an attempt to conceal the fraud.
It has also been heard Mr Bekier furiously rejected the findings of an audit that suggested his firm was failing to address concerns it was accepting cash from allegedly dodgy gamblers.
The authors of the report were then rehired by Star in an attempt to water it down.
Meanwhile, a class-action lawsuit launched by Slater and Gordon on Tuesday is seeking compensation for shareholders for “misleading or deceptive representations the company made about its compliance with regulatory obligations”.
“For the last six years, Star has held itself out to be a model casino operator that took its obligations seriously and followed not only the letter of the law, but the spirit of the law,” class actions senior associate Ben Zocco said.
“Star insisted that it took compliance seriously and ran its business ethically, honestly and with integrity. Our investigations to date, in addition to the extraordinary evidence revealed so far in the Bell Inquiry, suggests that they did everything but.”
After the announcement of the NSW probe in October, Queensland Attorney-General Shannon Fentiman said her state’s gaming regulator would work in conjunction with police and the anti-money laundering agency AUSTRAC to investigate money laundering allegations.
On Tuesday, a day after Mr Bekier’s resignation, the Office of Liquor and Gaming Regulation said it would continue to monitor the NSW inquiry and “(continue) additional inquiries and compliance activities relating to Queensland casinos”.
The regulator said it will use the recommendations of interstate casino inquiries and AUSTRAC investigations to consider if enhancements to Queensland’s casino regulatory framework were needed.
“Allegations of organised crime infiltration and money laundering activities are taken very seriously,” a spokexjmtzywsperson for the regulator said.
“Each casino operator is responsible for maintaining satisfactory and effective control over the operations of the casino and operating the casino in a compliant and legal manner.”
The NSW probe continues a torrid time for Australian casino companies, with James Packer’s Crown Resorts suffering significant reputational damage during similar public probes over the past two years.
Crown was dragged over the coals in three separate states for its alleged links to money laundering and organised crime and was heavily criticised for the sway Mr Packer had over its dealings.
Crown’s licence to operate a casino at its new Barangaroo tower in Sydney was suspended in 2021, while the company has also been deemed unfit to hold a licence for its Melbourne and Perth venues.
It is still allowed to operate its Victorian and Western Australian casinos under strict conditions.
