Allen & Overy consulting is an independent consultant that has been hired by Star Entertainment Group. The latter will be in charge of overseeing Star’s renewal program.
There is a star that wants to make things right
Australian regulators found Star Entertainment Group guilty of breaching certain regulations. Star promised to make things right and introduce the needed compliance measures. The renewal program is exactly what it is.
To be more precise, Star Entertainment’s program will make it easier for the company to remain compliant by improving transparent reporting to the board and the local regulators. Allen & Overy consulting was hired by Star Entertainment to further demonstrate its commitment to playing by the rules.
The renewal program will be monitored by the consultancy, which is a specialist in regulatory matters. Ben Heap, Star Entertainment’s interim chairman, spoke about the matter. He is looking forward to implementing the renewal program and working with regulators to improve the company’s business. Making Star’s business practices healthier and more responsible is a priority for Heap.
The rejuvenation effort will produce short- and long-term results centered on initiatives in governance, culture, training, systems, and technology.
All progress will be reported to the responsible regulatory authorities. Allen & Overy will be hired by Star for independent monitoring services.
The path of improvement is being walked
Crown Resorts, another gambling powerhouse that recently got into trouble, has adopted the same approach to renewal that Star has. The former company is waiting for the results of the review of its casino. The results of the review will be handed over to New South Wales’s Independent Liquor and Gaming Authority by the end of this month. A month ago, it was announced that Star’s business would be checked for money-laundering-related violations.
Star will have to walk the path of improvement and make sure it doesn’t happen again. New South Wales recently introduced amendments to its casino laws, which may pose additional challenges for the company. Operators’ board members may be fined for violating the rules as a result of the changes.
The FY2022 results of Star Entertainment have recently been posted. Despite the controversies, the company showed a strong recovery. StarSydney was the only venue that had lower revenues in 2019.
Allen & Overy consulting is a specialist in regulatory matters and has been hired by Star Entertainment Group to oversee their renewal program. The renewal program will be monitored by the consultancy, which is a specialist in regulatory matters. The program will deliver immediate and medium-term outcomes focused on governance, culture, training, systems and technology initiatives.