OPINION: Readers of the Bell inquiry into Star Entertainment, and the earlier reports into Crown Resorts, should ask one question: why has no one been charged?
and Perth. The Gotterson inquiry into Star in Queensland should reaffirm the findings of the inquiries in the other two states.
Tim Costello, who is head of the Alliance for Gambling Reform, hit the nail on the head on Wednesday when he asked: “What criminal activity needs to happen under the noses of regulators before they lose their licence to operate?“Casino operators are obviously a protected species like no other in Australia’s corporate landscape. What other company could be found guilty of such egregious failure and not have their licence to operate taken from them?There is a broader failure here in public policy.
Costello, who is the brother of Nine Entertainment chairman Peter, was spot-on when he said: “The casinos’ business models are based on the exploitation of the vulnerable and, up until now, the facilitation of money laundering, organised crime and fraud. “It is as if casino operators are bullet-proof. And the cleaning out of their executive ranks will do nothing to change the breaches that Star and Crown have been found guilty of in the past.”
It is estimated about $1.5 billion in cash was illegally put through the Crown and Star casinos, and a proportion of these funds was being laundered, according to evidence presented to the Bergin, Finkelstein and Bell inquiries. Cullen found that money from money laundering in casinos was contributing to the distortion of property prices because once the money was washed clean it was invested in property.
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