December 2022
The case that’s making Australia’s director class shake
ASIC’s bombshell case against Star Entertainment is only the third time that the regulator has gone after the entire board of a listed company, in a shot across the bow for Australia’s director class.
- Updated
- Hannah Wootton and Elouise Fowler
Star case to spur directors to dig deeper ‘if there is a smell’
The members of Australia’s company boards will be more rigorous in their review of key business risks after ASIC took legal action against 11 officials at Star Entertainment.
- Updated
- Sally Patten
- Opinion
- Chanticleer
The three crucial themes in ASIC’s landmark case against Star
ASIC chairman Joe Longo says the risks associated with running a casino are at the “core” of the business, and it is incumbent on directors to ensure those risks are being addressed.
- Updated
- Tony Boyd
Dishonourable discharge for Star directors
Will a Federal Court lawsuit inspire anyone to hand in their Order of Australia pin? We’ll die holding our breath.
- Michael Roddan
The 11 Star officers sued by ASIC and their alleged failures
ASIC alleges that 11 Star directors and executives failed to ‘sufficiently focus’ on the risks of money laundering and criminal associations in its casinos.
- Opinion
- Chanticleer
ASIC case exposes Bekier and O’Neill’s blame game
In the casino sector, big money carries big risk. And the Star executives and board members in ASIC’s sights must now explain how they missed the obvious dangers of a VIP business flooded with money.
- James Thomson
Star’s alleged junket failures, according to ASIC
The corporate regulator’s 164-page lawsuit against former Star directors alleges it did business with a junket operator despite numerous red flags.
- Aaron Patrick
June 2022
‘Reformed’ Star makes final plea to save Sydney casino licence
The casino operator has urged regulators to recognise its management purge and operational reforms in a plea to retain its casino licence.
- Lucas Baird and Elouise Fowler
May 2022
- Analysis
- Casinos
Crown example suggests Star will lose licence but stay open
Star Entertainment is almost certain to be found unfit to hold its Sydney casino licence, but like Crown Resorts, it may get a shot at redemption from NSW’s gambling watchdog.
- Hannah Wootton and Elouise Fowler
Star’s Sally Pitkin, John O’Neill in director masterclass
There goes another company director grasping for an external explanation for their own human failure of oversight.
- Joe Aston
Special Sydney board for Star a good idea: O’Neill
Inquiry head Adam Bell, SC, has floated the idea of requiring Star to set up governance structures dedicated to ensuring it complies with NSW laws.
- Hannah Wootton and Elouise Fowler
- Opinion
- Chanticleer
John O’Neill should have listened to this Macquarie legend
John O’Neill conceded Star’s risk management was not what it should have been. But denied he had misled the market or selectively briefed investors.
- James Thomson
Star’s O’Neill briefed select investors, ‘hoped’ it helped share price
John O’Neill also told the inquiry Star’s board approved two allegedly misleading ASX statements because it was under ‘stress’ to comment as ‘there had been a lot of negative publicity [and] the share price was under pressure’.
- Hannah Wootton and Elouise Fowler
Star promoted executives ‘beyond their capabilities’: O’Neill
Outgoing Star executive chairman John O’Neill says the company promoting people beyond their capability contributed to its wrongdoing and warned the clean out is not over yet.
- Hannah Wootton and Elouise Fowler
- Opinion
- Chanticleer
O’Neill struggles to explain Star’s downfall
Just days after resigning his post, executive chairman John O’Neill had trouble pinning down the root cause of the series of scandals at the casino operator.
- James Thomson
Star inquiry to tackle O’Neill’s stewardship of casino
John O’Neill has resigned as executive chairman of Star Entertainment, and on Monday he will still face the inquiry that has cost him and most of his colleagues their jobs.
- Hannah Wootton and Elouise Fowler
- Opinion
- Chanticleer
John O’Neill leaves Star’s rescue mission rudderless
John O’Neill’s resignation leaves The Star without a leader at a time when the casino regulator needs reassurance the company deserves to keep its casino licence.
- James Thomson
Star’s O’Neill resigns before facing inquiry
His stepping down comes just two days before he was scheduled to give evidence to the NSW inquiry, which has already cost most of his colleagues their jobs.
- Hannah Wootton and Elouise Fowler
Star director Sally Pitkin goes out with a bang
The jig is up for this ridiculous narrative that The Star were somehow the good guys.
- Joe Aston
April 2022
Dirty dollars: How Australia’s casino industry became so rotten
Weak regulators, a profit at all costs culture, and an attempt by Beijing to clamp down on gamblers’ foreign spending have all fed Star’s misconduct.
- Elouise Fowler and Hannah Wootton