A new regulatory body will assume responsibility for overseeing casino licensing in New South Wales (NSW), Australia, starting from September 5th. The decision to establish the new regulator came in response to the findings of the Bergin inquiry, which assessed the suitability of Crown Resorts to hold a casino license in Barangaroo, Sydney.
The Ministry for Hospitality and Racing, led by Kevin Anderson, announced the team that will lead the new regulatory body, including ILGA chair Philip Crawford and other ILGA veterans. The regulator’s initial priorities will be to review the report on The Star casino’s suitability and continue supervising Crown Sydney.
The Appointment of the New Regulatory Body:
Minister Kevin Anderson appointed a team of experienced individuals, led by ILGA chair Philip Crawford, to spearhead the new regulatory body. The decision to create this body was prompted by the Bergin inquiry’s findings, which raised concerns about Crown Resorts’ suitability for a casino license. The team, comprising ILGA veterans, brings valuable expertise to the leadership of the new regulator.
Reviewing The Star and Crown Sydney:
The new regulatory body’s immediate focus will be on reviewing Adam Bell SC’s report on The Star’s suitability to hold a casino license in NSW. The investigation into The Star’s alleged malpractice includes an assessment of anti-money laundering and social responsibility failings related to its treatment of high-rollers. Concurrently, the regulator will continue to supervise and assess the ongoing suitability of Crown Sydney.
Wexted Advisors and Independent Expertise:
Given the seriousness of the issues uncovered during The Star’s review and the potential for ongoing compliance failures, the ILGA has engaged the services of business development consultants, Wexted Advisors. Acting as independent experts on behalf of the ILGA, Wexted will provide reports to help identify any immediate concerns until the new regulator responds to Adam Bell’s report. The ILGA has stated that Bell’s report will be made public after its findings have been thoroughly considered.
Ongoing Developments at The Star:
The Star has experienced several leadership changes recently, with Robbie Cooke assuming the role of the company’s fourth CEO in 2022. The ongoing inquiry into The Star’s alleged malpractice has brought attention to the casino’s anti-money laundering and social responsibility practices. The regulatory actions and findings will likely have a significant impact on The Star’s operations and future licensing in NSW.
The establishment of a new regulatory body to oversee casino licensing in NSW marks a significant development in the aftermath of the Bergin inquiry. The appointment of experienced leaders from the ILGA demonstrates the government’s commitment to ensuring integrity in the casino industry. With a focus on reviewing The Star’s suitability and continuing the supervision of Crown Sydney, the new regulator will play a crucial role in maintaining the integrity of the casino licensing process.
The engagement of independent experts from Wexted Advisors further reinforces the commitment to transparency and effective regulation. As the findings from the ongoing inquiries become public, the casino landscape in NSW will undoubtedly undergo significant changes, shaping the future of the industry in the state.