Australias top leader has refused requests for a nationwide gambling oversight body in the wake of the controversy surrounding Star Entertainment Group.
When questioned about gambling rules in a conversation, the Prime Minister stated that the Bell Report brought up concerns about the future of Star Entertainment Group.
A gambling opponent and independent representative, Andrew Wilkie, demanded a national investigation into the industry and its companies. He asserted that the Bell Report’s conclusions were “not unexpected” and highlighted “deep-rooted cultural and organizational issues” within the organization.
Star Entertainment Group now has two weeks to respond to the report’s findings. The New South Wales Independent Casino Commission (NICC) stated in a notification to the group that it could revoke or suspend its permit and impose a penalty of up to $100 million.
When asked about calls for a national supervisor, the Prime Minister stated that the actions taken by New South Wales thus far demonstrated that states could be trusted to oversee the industry.
In my view, the state authorities are doing a commendable job, they are ensuring the casino operators are answerable,” he stated.
“I don’t concur with regulation for regulation’s sake. I believe it’s difficult to argue that Crown or Star haven’t been held responsible at this juncture.”
When questioned if the authorities currently possess sufficient authority, he responded: “These are state-run authorities, it’s up to the states to address that. However, it’s evident that we have witnessed the authorities adopt a firm stance and hint at further stringent measures.”
The Bell Report – published last year – uncovered a spectrum of wrongdoing, from successfully evading China’s capital flight laws by deceptively reclassifying gambling expenditures as hotel expenses on China UnionPay (CUP) cards and concealing these payments from banking institutions, to various other improprieties. It also discovered that SEG permitted an entity potentially linked to organized crime to operate cages at its Star casino, and lied to and concealed documents from the state regulator – the Independent Liquor and Gaming Authority.
The newly established National Integrity Commission (NICC) has been granted the power to determine the nature and form of disciplinary action taken against casinos. The NICC is a recently established statutory body that has assumed the ILGA’s regulation of the casino industry.
The SEG organization declared in an official statement that they are thoroughly examining the issues brought up in the Bell Report and the NICC notice.
On Tuesday, SEG brought on Nawal Silfani, a veteran legal professional and expert in corporate governance, as their company secretary.
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