The Queensland government has announced it will delay the suspension of The Star Gold Coast casino’s gaming license. The Broadbeach Island resort’s slot machines and table games will remain in operation as a result of the authorities’ decision.
The Queensland government said in a release it will defer the suspension until next year or possibly lift the temporary interruption of play altogether. A decision will be reached by March 31, 2025. The property was due to have its gaming license suspended for 90 days effective December 20, 2024.
“The Government has the highest standards when it comes to the integrity of casino operations and, unlike our predecessors, we are committed to transparency and restoring the confidence of Queenslanders in the regulatory process,” said Honorable Deb Frecklington, Queensland attorney general and minister for justice and integrity.
The move aims to provide government investigators with more time to evaluate if The Star Gold Coast is making sufficient remedial efforts to fix the compliance problems that were previously detected. The property is one of two casinos in Queensland owned and run by embattled Australian firm Star Entertainment.
Star Entertainment was found unsuitable to possess a gaming license in New South Wales (NSW) for a second time in August. A government inquiry determined at the time that The Star Sydney was unfit to run casino operations after concluding the property looked the other way amid suspected money laundering on its gaming floor.
Shortly after, officials in Queensland, where the company operates The Star Gold Coast and the newly opened Star Brisbane, launched an inquiry to evaluate if similar business practices were being conducted there. Evidence ultimately suggested compliance shortcomings at the Gold Coast casino, prompting the government to evaluate the suspension of the resort’s gaming license for three months.
The Queensland government has clarified that the deferment doesn’t mean the suspension won’t occur, although the issue could develop similarly to how it did in NSW. That inquiry initially proposed suspending The Star’s gaming license, but this decision was ultimately changed to an AU$15 million ($9.56 million) fine.
The Gold Coast deferment provides a rare win to the embattled operator, which has grappled with unfavorable business results as of late. In addition to its repeated compliance problems, the company has seen many of its Chinese high-rollers flee to new markets. Company EBITDA was down from AU$237.5 million in the 2022 fiscal year to AU$174.7 million in FY2024, a decline of more than 26%.
Original article: https://www.yogonet.com/international/news/2024/12/11/88256-queensland-govt-delays-suspension-of-the-star-gold-coast-39s-gaming-license
