Robbie Cooke Steps Down as Star Entertainment CEO Amid Ongoing Regulatory Investigations

Robbie Cooke has resigned from his position as CEO of Star Entertainment.

Robbie Cooke has quit as the CEO of Star Entertainment Group, which is currently being checked by the New South Wales (NSW) government to see if it should keep its gambling license. Cooke held the CEO role for under two years since he started in July 2022, and he's stepping down amid this investigation.

Reasons Behind the Resignation

Cooke quit because the New South Wales Independent Casino Commission is looking into the company. They started this because a 2022 review said that Star Entertainment shouldn't have a gambling license. The company didn't do enough to stop money laundering. After these results, CEO Matt Bekier and the head of the board, John O’Neil, both left their jobs.

2022 Inquiry Results

• Star Sydney had insufficient money laundering controls.
• Criminal organizations may have infiltrated the integrated resort.
• The discovery of a secret VIP gaming room utilized by Chinese nationals was particularly concerning.

Alvin Chau, who started the Macau-based gambling company Suncity, was found guilty and sent to jail in China for several gambling-related crimes, which pointed out serious issues with the gambling industry there.

The current state of Star Entertainment is as follows.

Star Entertainment, Australia's second-largest casino company, owns places like The Star Sydney and others in Queensland. But they face problems with regulations that have led to company leaders being replaced as they try to deal with these issues.

Interim Leadership

After Cooke left, David Foster, the chairman of Star, is now the acting CEO. His job is to find a new CEO to take over while he earns AU$40,000 a month.

Why the Recent Investigation Matters

The NICC's ongoing second review is keeping a close eye on Star. The firm must fix the issues regulators found before by January 2024.

Robbie Cooke's Statement

Robbie Cooke resigned because he thinks it's best for the company as they try to meet government rules. He's stepping down to help Star Entertainment prove it's fit to hold a gaming license in NSW.

Future Plans for Star Entertainment

Star Entertainment is working to meet regulations, and it’s unclear who will take charge and how the company will react to the NICC's report. A current investigation will decide if Star can keep doing business in NSW.

For further information on the NSW Independent Casino Commission and its regulatory role, you can access official details through the following link: NSW Independent Casino Commission.

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