(Reuters) – Star Leisure mentioned on Friday its Australia-listed shares had been halted from buying and selling for the on line casino operator to digest the fallout from a scathing report on its company tradition and assess the implications on its fiscal 2024 outcomes.
Earlier this yr, NSW Unbiased On line casino Fee (NICC) had appointed lawyer Adam Bell SC to conduct a second investigation into the corporate on account of considerations that it had not sufficiently addressed its cultural shortcomings after being uncovered for main anti-money laundering and counter-terrorism failures in 2022.
Star Leisure’s licence to function its Sydney on line casino was suspended in October 2022.
The corporate mentioned in a bourse submitting on Friday that it is because of publish its full-year outcomes later within the day, and is “contemplating the implications the report could have for disclosures regarding its monetary outcomes for the yr ended June 30.”
The ultimate report by Adam Bell reveals that Star has been sluggish to deal with governance and cultural points recognized in Bell’s 2022 report, in accordance with NICC Chief Commissioner Philip Crawford.
“The NICC is considering Mr Bell’s findings, together with 4 compliance breaches, and can reply sooner or later,” Crawford mentioned in an announcement launched on Thursday.
