An inquiry into Star Entertainment has found the company still isn't fit to run its Sydney casino. The state's gambling regulator says the casino has done little to change its "toxic culture". The future of the business now hangs in the balance.
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00:00The reputation of Australia's biggest listed casino group has once again been shredded.
00:08For the second time in two years, an independent investigation has found Sydney's Star Casino
00:14is unfit to hold a license.
00:17The independent report commissioned by the New South Wales gambling regulator found Star
00:22was too slow to make changes to its toxic culture and slammed its former senior management
00:28for serious breaches including fraud.
00:32An initial report in 2022 saw Star stripped of its license after evidence of money laundering
00:38and criminal infiltration.
00:41It's currently operating under an interim manager appointed by the government.
00:45Experts say Star's future is in serious jeopardy.
00:50These large organisations require huge systemic reform to change their corporate cultures
00:58and corporate characters if they're going to become suitable to hold a casino operating
01:04license.
01:05Star Entertainment was due to post its full year results today but instead entered a trading
01:11halt.
01:12The regulator will now consider the findings including compliance breaches and will respond
01:17in coming weeks.