Star Casino’s ‘penalty’ so weak even Financial Review is panning it

It is a peculiar feeling, however right now Crikey finds itself agreeing, wholeheartedly, with an editorial within the largely forgettable enterprise tabloid Australian Monetary Overview. Normally a stern advocate for the pursuits of firms, boards and company executives — even on the expense of traders — right now the AFR rails towards the pissweak penalty handed out to Star On line casino by the NSW gaming regulator within the wake of the stunning Bell inquiry into a number of cases of systemic misconduct on the on line casino.

Star will merely pay a tremendous and have its on line casino licence “suspended” whereas it continues to function, till it’s deemed match to renew the licence.

That The Star will stay open through the suspension exhibits the declare that discovering new house owners would require a shutdown and job losses doesn’t wash. As an alternative, what has occurred once more is that the shareholders of a gaming firm have been inappropriately shielded from the draw back of appalling company misconduct on the expense of correct accountability. The lenient therapy for the wrongdoing that has stained Australia’s status as a clear place to do enterprise shouldn’t be ok.