Following the findings and recommendations of the Bell and Gotterson reviews of 2022, we commissioned The Ethics Centre to conduct a comprehensive Culture Review of our business. The recommendations from the review span identification of shadow values, and systemic drivers from operating model, organisational structure and strategy to leadership competencies and capabilities.
We then engaged Deloitte to complete an independent Root Cause Analysis of the failings identified by Bell, Gotterson and The Ethics Centre.
These results, together with the recommendations from the reviews, were incorporated into a Remediation Plan detailing 638 actions to drive structural, cultural and operational transformation.
Since October 2023, The Star has completed work on 332 activities, or over 50% of the Remediation Plan. Of those activities, 167 have been reviewed and accepted as complete by independent assurance provider KPMG, and another 43 are acknowledged as substantially complete with minor updates required.
From early 2024 however, it became clear that the original Remediation Plan over-emphasised delivery of activities rather than outcomes and we have not made significant progress with our remediation efforts in areas such as governance, regulatory engagement, safer gambling and financial crime.
The Star is in the process of finalising the amended Remediation Plan and engaging with our Regulators and Manager/Special Manager to obtain feedback. The amended Remediation Plan will be subject to the approval of the Regulator and Government in Queensland and the endorsement of the Manager/Special Manager. In the meantime, we are continuing with our remediation work to deliver improved outcomes.
More detail about our work to date and our priorities going forward can be found in The Star Remediation Summary of 12 July 2024.
Ethical Framework
An ethics framework has been developed encompassing Purpose, Values and Principles (PVP); and a Culture Strategy has been developed, underpinned by stakeholder input and findings of Deloitte and The Ethics Centre.
New strategic direction launched supported by the new PVP.
Cashless Gaming Trial
Cashless and carded play trial launched at The Star Sydney in Feb 2024 on 51 poker machines and 8 table games. The trial is a precursor to the introduction of cashless and carded play at NSW casinos from August 2024. This initiative reduces risks of money laundering as all transactions are linked to a verified financial institution with fixed transaction limits, monitoring and transaction reporting in place.
This also provides greater ability to identify guests who may benefit from intervention from our Safer Gambling team.
Safer Gambling
Time Play limits and regular check-in conversations with guests are in place to encourage safer gambling and minimise harm.
A comprehensive exclusions process is also active to minimise gambling harm. Exclusion from gaming can be initiated by The Star or by the guest themselves, with information shared across our three properties.
Financial Crime
Our Financial Crime Risk Operations team has expanded from 26 to 115 full time employees to support our response to the Bell inquiry.
We have rewritten our Financial Crime Program Manual and have implemented extensive new internal controls focused on Anti-Money Laundering and Counter-Terrorism Financing.
Risk Management
New Chief Risk Officer appointed in 2023 and Heads of Risk roles introduced in each property.
Risk team expanded from 53 to 95 full time employees.
Our Sydney internal controls were replaced on 30 June 2023. This project was completed by 150 team members over eight months and involved 546 unique controls.
Our Queensland internal controls are currently being uplifted.
29 April 2024 Appointment of new Chair
07 Feb 2024 Appointment to the Board – Peter Hodgson (subject to regulatory approvals)
26 June 2024 Appointment of Group Chief Executive Officer and Managing Director (subject to regulatory approvals)
24 June 2024 Leadership update
30 May 2024 Appointment of Group Chief Operations Officer (subject to regulatory approvals)
22 March 2024 Appointment of Interim Group Chief Financial Officer
22 March 2024 Departure of Group Chief Executive Officer and Managing Director
25 January 2024 The Star appoints Sydney CEO
23 January 2024 The Star appoints Brisbane CEO
The Star Entertainment Group Limited
ABN 85 149 629 023
Registered Office
Level 3, 159 William Street
Brisbane QLD 4000
Acknowledgement of Country
The Star recognises the continuing connection to land, sea and community of First Nations peoples and we pay our respects to Elders, past and present. We respectfully acknowledge the Traditional Owners of the land on which our properties are located, the Turrbal and Jagera people of the Brisbane region, the Yugambeh language people of the Gold Coast region, and the Gadigal people of the Eora Nation in Pyrmont.
© The Star Entertainment Group 2021
The Star Entertainment Group announced on 5 April 2016 share sale facilities that provided eligible small shareholders the opportunity to sell their shares without incurring any brokerage or handling costs.
Participation in the separate share sale facilities were open to eligible shareholders whose registered address was in Australia or New Zealand as at 7.00pm (Sydney time) on 29 March 2016 (Record Date) and who were:
On 5 April 2016, eligible shareholders were sent a letter together with a Share Retention Form (for the Small Holding Sale Facility) or a Sale Instruction Form (for the Voluntary Share Sale Facility), and Terms and Conditions for the relevant share sale facility.
Both share sale facilities closed at 5:00pm (Sydney time) on 17 May 2016 (Closing Date).
All participants who had their SGR shares sold under either the Small Holding Sale Facility or the Voluntary Share Sale Facility received the same average price of $5.51 per share, which was calculated by dividing the total proceeds from the sale of all SGR shares sold under the facilities by the total number of SGR shares sold under the facilities.
Payment of the sale proceeds were made to participating shareholders on 27 May 2016 in accordance with their payment instructions as recorded on the share register.
Small Holding Sale Facility
The Small Holding Sale Facility was conducted in accordance with The Star Entertainment Group’s Constitution and the Australian Securities Exchange Listing Rules that enables all listed companies to sell shareholdings valued at less than $500 (Unmarketable Parcel).
Based on a share price of $5.68, being the closing price of The Star Entertainment Group (SGR) shares on the Australian Securities Exchange on the Record Date, an Unmarketable Parcel was any holding of 88 shares or less.
Eligible shareholders who wished to retain their Unmarketable Parcel were required to return a Share Retention Form to the share registry by the Closing Date.
Small Holding Facility Key Dates:
Voluntary Share Sale Facility
The Voluntary Share Sale Facility was conducted in accordance with Class Order CO 08/10 issued by the Australian Securities and Investment Commission.
Eligible shareholders who wished to sell their shares under the Voluntary Share Sale Facility were required to return a Sale Instruction Form by the Closing Date.
Voluntary Holding Facility Key Dates:
For full details of the Small Holding Sale Facility and the Voluntary Share Sale Facility, please see the ASX Announcement dated 5 April 2016 in the News section of our website.
The demerger of The Star Entertainment Group (formerly known as Echo Entertainment Group Limited) from Tabcorp Holdings Limited (Tabcorp) was implemented on 15 June 2011 by way of Scheme of Arrangement pursuant to the Tabcorp Scheme Booklet dated 15 April 2011 (Demerger).
As part of the Demerger, Tabcorp sought a ruling from the Australian Taxation Office on the taxation implications for shareholders. On 29 June 2011, the Australian Taxation Office issued Class Ruling CR 2011/66, in accordance with the application made by Tabcorp. A copy of the Class Ruling CR 2011/66 can be viewed here.
A Tax Calculator is provided below to assist shareholders in calculating the Australian capital gains tax cost base allocation for Tabcorp shares and The Star Entertainment Group shares. The Tax Calculator is a general guide only and does not constitute tax advice. Shareholders should seek advice from an appropriate professional adviser on the tax implications of the Demerger based on their own individual circumstances.
Click here to download the Tax Calculator
Click here to access information on the Australian Taxation Office website
