Australia's Star faces second inquiry into Sydney casino ops

Adds background on casino licence suspension, NSW regulator's statement

Feb 19 (Reuters) - Australia's Star Entertainment Group SGR.AX will be facing a second inquiry into its Sydney casino operations, as the New South Wales casino regulator planned to investigate the casino's operational suitability, the regulator said on Monday.

Star's licence to operate its Sydney casino was suspended in October 2022, after an investigation by an independent commission found it had failed to prevent money laundering and criminal activity.

NSW Independent Casino Commission (NICC) said it was "not satisfied" with the company's progress on its remedial measures following extension of the regulator-appointed management for the second time in December last year.

"The NICC has had concerns about the extent that remediation is attributable to the (casino) manager's oversight and direction versus what is being driven by The Star's reform agenda," it said.

Star did not immediately reply to a Reuters request for comment. Its shares were on a trading halt pending announcement regarding the second enquiry.

(Reporting by Poonam Behura; Editing by Rashmi Aich)

((Poonam.Behura@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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