{"id":247,"date":"2024-06-25T23:25:29","date_gmt":"2024-06-25T20:25:29","guid":{"rendered":"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/"},"modified":"2024-06-25T23:25:29","modified_gmt":"2024-06-25T20:25:29","slug":"star-entertainment-faces-second-bell-report-investigation","status":"publish","type":"post","link":"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/","title":{"rendered":"Star Entertainment Faces Second Bell Report Investigation"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/HQnTDDrdfys\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The Star Entertainment Group has asked the Australian Securities Exchange (ASX) to halt trading of its stock.<\/p>\n<p>The New South Wales Independent Casino Commission (NICC) has verified a second probe into Star Entertainment Group, following the casino operator&#8217;s plea to have its common shares suspended from trading on the ASX.<\/p>\n<p>Star Entertainment is being scrutinized again by a second Bell Report.<\/p>\n<p>Adam Bell &#8211; who is renowned for finishing the first Bell Report &#8211; has been assigned to conduct a second investigation, dubbed Bell Two. The examination commences today (February 19) and will extend for 15 weeks. The concluding report is scheduled for May 31, 2024.<\/p>\n<p>NICC Chief Commissioner Philip Crawford stated that the second Bell Report will scrutinize how Star Entertainment Group has endeavored to implement the suggestions of the initial Bell Report.<\/p>\n<p>&#8220;Bell Two will take us back to the Bell Report and Star Entertainment&#8217;s efforts to reclaim its casino license in the shadow of that report,&#8221; he remarked. &#8220;There are numerous risks for Star Entertainment, thus the NICC is providing the casino every opportunity to demonstrate that it is capable and competent to meet the suitability standards.<\/p>\n<p>&#8220;The inquiry will furnish the NICC with the essential information to make significant decisions concerning Star Entertainment Group, its personnel, its stakeholders, and the broader community.&#8221;<\/p>\n<p>What will Bell Two encompass?<br \/>\nA statement issued by Star Entertainment Group today confirmed that it had received notification of the second Bell Report. <\/p>\n<p>Moving beyond examining the subsequent effects of the first Bell Report, the second inquiry will concentrate on the corporate atmosphere of the Star Group, encompassing its risk management culture and the Group&#8217;s administrative and reporting procedures. It will also assess whether the Star Group can obtain the financial resources required to sustain its gambling operations.<\/p>\n<p>Adam Bell&#8217;s initial report unveiled that Star Sydney Casino had been deficient in anti-money laundering and social responsibility for an extended period. A year later, a report on Star Sydney Casino&#8217;s progress indicated that the casino had implemented 22 of the 30 measures outlined in the Bell Report.<\/p>\n<p>This comes as the Star Group is striving to restore its reputation in New South Wales. In September 2022, the group was deemed unsuitable to possess a casino license in the state.<\/p>\n<p>The Star Group is also confronting similar suspensions in Queensland, along with four class action lawsuits and potential AUSTRAC penalties. The majority of these issues stem from its association with Chinese intermediary operators.<\/p>\n<p>Trading Suspension<\/p>\n<p>The Star Group stated that the request for a trading suspension was connected to today&#8217;s contact from the NICC. As of this statement, the operator has not divulged any additional information regarding this investigation.<\/p>\n<p>However, it did request that the trading suspension persist until it releases further details about the investigation, or February 21, whichever occurs first.<\/p>\n<p>The Star Group added that it anticipates the ASX to approve the request for a trading suspension.<\/p>\n<p>The Star Group has consented to a job security agreement in New South Wales. <\/p>\n<p>The arrival of NICCs representatives comes just a few days after Star secured a job security pact in the state. This agreement, finalized last week, is a legally binding deal that mandates Star to maintain a minimum workforce at its Sydney operations.<\/p>\n<p>As part of the same accord with New South Wales Treasurer Daniel Mookhey, Star will also commence a trial of cashless and card-only gaming at its Sydney casino. This trial will serve as a prelude to broader reforms planned for implementation across New South Wales later this year.<\/p>\n<p>Star also reached an understanding with the New South Wales government last August regarding casino tax rates. Since then, the company has been diligently working on a transition strategy to stabilize operations at its Sydney casino and mitigate further reductions.<\/p>\n<p>Influence on Financial Performance<br \/>\nThe regulatory actions have had a predictable impact on Star&#8217;s financial performance. Last August, Star announced a full-year deficit of A$2.4 billion (\u00a31.24 billion\/\u20ac1.46 billion\/$1.57 billion).<\/p>\n<p>Star highlighted that A$2.8 billion in expenses were categorized as &#8220;significant items&#8221; for the fiscal year. These expenses were related to a variety of fines levied against the operator.<\/p>\n<p>Goodwill and property assets for the Sydney, Gold Coast and Brisbane treasuries reported a non-cash depreciation of A$2.2 billion. Additionally, there were A$595 million in regulatory and legal expenses, A$54 million in debt restructuring expenses and A$16 million in redundancy expenses.<\/p>\n<p>These costs, offset by the increasing A$317 million in EBITDA, resulted in a A$2.4 billion after-tax loss.<\/p>\n<p>Sign up for the iGaming Newsletter <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Star Entertainment Group has asked the Australian Securities Exchange (ASX) to halt trading of its stock. The New South Wales Independent Casino Commission (NICC) has verified a second probe&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Star Entertainment Halts Trading Amidst New Probe<\/title>\n<meta name=\"description\" content=\"Star Entertainment Group faces a second investigation by Adam Bell, following a previous report that led to the suspension of its stock on the ASX.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Star Entertainment Faces Second Bell Report Investigation\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Star Entertainment Group faces a second investigation by Adam Bell, following a previous report that led to the suspension of its stock on the ASX.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Your Source for Trusted Casino News &amp; Licensed Gaming Experience\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-25T20:25:29+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/\",\"url\":\"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/\",\"name\":\"Star Entertainment Halts Trading Amidst New Probe\",\"isPartOf\":{\"@id\":\"https:\/\/spindimensionnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-25T20:25:29+00:00\",\"dateModified\":\"2024-06-25T20:25:29+00:00\",\"author\":{\"@id\":\"https:\/\/spindimensionnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Star Entertainment Group faces a second investigation by Adam Bell, following a previous report that led to the suspension of its stock on the ASX.\",\"breadcrumb\":{\"@id\":\"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/spindimensionnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Star Entertainment Faces Second Bell Report Investigation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/spindimensionnodepositbonus.icu\/#website\",\"url\":\"https:\/\/spindimensionnodepositbonus.icu\/\",\"name\":\"Your Source for Trusted Casino News &amp; Licensed Gaming Experience\",\"description\":\"Indulge in the excitement of licensed online gambling with the help of our up-to-date casino news, comprehensive reviews, and expert articles. Elevate your gaming experience.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/spindimensionnodepositbonus.icu\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/spindimensionnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/spindimensionnodepositbonus.icu\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"contentUrl\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"caption\":\"admin\"},\"description\":\"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.\",\"sameAs\":[\"http:\/\/theworldcasino.vip\"],\"url\":\"https:\/\/spindimensionnodepositbonus.icu\/author\/ezvhu8xt\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Star Entertainment Halts Trading Amidst New Probe","description":"Star Entertainment Group faces a second investigation by Adam Bell, following a previous report that led to the suspension of its stock on the ASX.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/","og_locale":"en_GB","og_type":"article","og_title":"Star Entertainment Faces Second Bell Report Investigation","og_description":"Star Entertainment Group faces a second investigation by Adam Bell, following a previous report that led to the suspension of its stock on the ASX.","og_url":"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/","og_site_name":"Your Source for Trusted Casino News &amp; Licensed Gaming Experience","article_published_time":"2024-06-25T20:25:29+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/","url":"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/","name":"Star Entertainment Halts Trading Amidst New Probe","isPartOf":{"@id":"https:\/\/spindimensionnodepositbonus.icu\/#website"},"datePublished":"2024-06-25T20:25:29+00:00","dateModified":"2024-06-25T20:25:29+00:00","author":{"@id":"https:\/\/spindimensionnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0"},"description":"Star Entertainment Group faces a second investigation by Adam Bell, following a previous report that led to the suspension of its stock on the ASX.","breadcrumb":{"@id":"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/spindimensionnodepositbonus.icu\/2024\/06\/25\/star-entertainment-faces-second-bell-report-investigation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Homepage","item":"https:\/\/spindimensionnodepositbonus.icu\/"},{"@type":"ListItem","position":2,"name":"Star Entertainment Faces Second Bell Report Investigation"}]},{"@type":"WebSite","@id":"https:\/\/spindimensionnodepositbonus.icu\/#website","url":"https:\/\/spindimensionnodepositbonus.icu\/","name":"Your Source for Trusted Casino News &amp; Licensed Gaming Experience","description":"Indulge in the excitement of licensed online gambling with the help of our up-to-date casino news, comprehensive reviews, and expert articles. Elevate your gaming experience.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/spindimensionnodepositbonus.icu\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/spindimensionnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/spindimensionnodepositbonus.icu\/#\/schema\/person\/image\/","url":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","contentUrl":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","caption":"admin"},"description":"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.","sameAs":["http:\/\/theworldcasino.vip"],"url":"https:\/\/spindimensionnodepositbonus.icu\/author\/ezvhu8xt\/"}]}},"_links":{"self":[{"href":"https:\/\/spindimensionnodepositbonus.icu\/wp-json\/wp\/v2\/posts\/247"}],"collection":[{"href":"https:\/\/spindimensionnodepositbonus.icu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/spindimensionnodepositbonus.icu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/spindimensionnodepositbonus.icu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/spindimensionnodepositbonus.icu\/wp-json\/wp\/v2\/comments?post=247"}],"version-history":[{"count":0,"href":"https:\/\/spindimensionnodepositbonus.icu\/wp-json\/wp\/v2\/posts\/247\/revisions"}],"wp:attachment":[{"href":"https:\/\/spindimensionnodepositbonus.icu\/wp-json\/wp\/v2\/media?parent=247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/spindimensionnodepositbonus.icu\/wp-json\/wp\/v2\/categories?post=247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/spindimensionnodepositbonus.icu\/wp-json\/wp\/v2\/tags?post=247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}