Star Entertainment's inquiry hearings to be held in public
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The news: The Star Entertainment Group has been advised by the NSW Independent Casino Commission (NICC) that inquiry hearings will be held primarily in public, as senior counsel Adam Bell viewed it as in the public interest.
The numbers: The Star has also been notified by the NICC that the casino regulator will seek to extend the date on which the inquiry report will be delivered — from 31 July 2024 to 30 September 2024 — to allow the for public hearings to be held.
Shares in the casino operator were trading 1% higher at $0.55 by 11:45am AEDT.
The context: Last month, the NICC announced a second inquiry into the casino operator, following a previous review that concluded in 2022. The first inquiry, which led to the resignation of the Star's board and then CEO Matt Bekier, found the company unsuitable to hold its casino licence, following evidence of money laundering, criminal infiltration and large-scale fraud.
On Friday, the Star confirmed that CEO Robbie Cooke would step down as it awaits news on the outcome of the NICC's inquiry into whether it should retain its NSW casino licence. The group also announced that its chief financial officer Christina Katsibouba has resigned, and will be replaced by Neale O’Connell as interim CFO.
The source: ASX announcement
