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Star boss falls on his sword as money laundering claims swirl around casino

The company behind the $3 billion Queens Wharf project in Brisbane is in turmoil after its chief executive quit and evidence mounts about widespread misconduct at its casinos.

Mar 28, 2022, updated Mar 28, 2022
Star's chief executive Matt Bekier has resigned

Star's chief executive Matt Bekier has resigned

The board of Star Group announced this morning that it had accepted the resignation of Matt Bekier.

“Mr Bekier’s decision follows issues raised in the public hearings in connection with the review of The Star Sydney being undertaken by Adam Bell SC,” Star told the ASX this morning.

“While the review remains ongoing, Mr Bekier informed the board that as managing director and chief executive he is accountable for the effectiveness and adequacy of the company’s processes, policies, people and culture. Mr Bekier said the right thing to do was to take responsibility.”

Bekier would leave the board immediately, but would remain with the company through the transition to a new leader.

Star was already facing investigations from regulators, including those in Queensland, in relation to money laundering, but revelations out of the NSW inquiry have been devastating for the company.

The Jamie Packer controlled Crown Casinos is also facing the fallout of inquiries which found that it was not fit to hold a casino licence in NSW.

In Perth last week, Crown suffered another blow when an inquiry found it was unsuitable to hold a gaming licence.

The recent revelations about Star have been around the so-called junkets and high-rollers and have been revealed in the Bell hearings. There have also been allegations of widespread money laundering at its Sydney, Brisbane and Gold Coast casinos.

The hearing was told about one Chinese gambler who spent $11 million in one day on a China Union Pay debt card, which were only allowed for use for non-gambling activities. Instead, Star categorised the funds as accommodation or entertainment.

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