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By the end of September, The Star Sydney has a chance of regaining its casino license, but this may only be possible if certain conditions and ongoing regulations are met.
According to the NSW Independent Casino Commission (NICC), Star will finish with its challenges upon the expiration of government-appointed manager Nick Weeks’ term. However, Weeks is likely to remain involved in the process.
Since October of 2022, The Star’s license has been suspended following the Bell Inquiry which pointed to some significant failures in the company’s anti-money laundering measures, VIP management, and corporate governance.
The company will only be able to get its license back if it complies with strict regulations and continues to do so. Additionally, the NICC is scheduled to conduct another suitability review within 12-18 months.
Star continues to deal with financial and regulatory pressures such as its AU$307m FY2026 loss and the AUSTRAC case when it needs to pay around AU$400 million due to the accusation of having violated AML legislation.
Star was subjected to another fine of AU$500,000 in August due to incident associated with minors being involved in gambling.
Nevertheless, regaining control does not mean that the company will not be under scrutiny of regulators. The NICC is expected to conduct another assessment regarding the company’s suitability and compliance with Section 31 of the Casino Control Act in the next 12 to 18 months.
As of now, Star Sydney is facing a dilemma regarding the company’s ability to regain control of the casino.