00:00The reputation of Australia's biggest listed casino group has once again been shredded.
00:08For the second time in two years, an independent investigation has found Sydney's Star Casino
00:14is unfit to hold a license.
00:17The independent report commissioned by the New South Wales gambling regulator found Star
00:22was too slow to make changes to its toxic culture and slammed its former senior management
00:28for serious breaches including fraud.
00:32An initial report in 2022 saw Star stripped of its license after evidence of money laundering
00:38and criminal infiltration.
00:41It's currently operating under an interim manager appointed by the government.
00:45Experts say Star's future is in serious jeopardy.
00:50These large organisations require huge systemic reform to change their corporate cultures
00:58and corporate characters if they're going to become suitable to hold a casino operating
01:04license.
01:05Star Entertainment was due to post its full year results today but instead entered a trading
01:11halt.
01:12The regulator will now consider the findings including compliance breaches and will respond
01:17in coming weeks.
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