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‘However, the Bell Report underscores the NICC’s concerns that it was not receiving all of the facts from The Star at a time when we needed certainty the company could fund and prioritise an urgent business turnaround,’ he said. “We want to make sure taxpayers receive the full dividend from this project, but the fact is we won’t receive that dividend if the Queen’s Wharf Brisbane closes and 1400 people lose those jobs,” he said on Thursday. A week on from the release of a scathing report that declared it was unsuitable to take back control of its lucrative Sydney casino licence, the company’s board confirmed it was in talks over its short-term financial position “in light of adverse trading and other conditions”.
The Star’s Sydney licence remains suspended after a first inquiry found damning evidence of anti-money laundering and counter-terrorism failings, although it has been allowed to keep the casino operating with a regulator-appointed manager. “The Star is currently reviewing its financial and liquidity position with various advisers in the context of seeking to finalise its preliminary financial report for the financial year,” the statement said.
But the NSW government has ruled out providing further taxpayer assistance to The Star after giving the casino a reprieve on a planned poker machine tax increase until 2030 in return for a transitional deal that included a jobs guarantee.