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ASIC Takes Legal Action Against 11 Current and Former Star Entertainment Directors and Officers
The Australian Securities and Investments Commission (ASIC) has commenced civil penalty proceedings in the Federal Court against 11 current and former directors and officers of The Star Entertainment Group Limited (Star) for alleged breaches of their duties under section 180 of the Corporations Act.
ASIC Deputy Chair Sarah Court said: “ASIC alleges that Star’s board and executives failed to give sufficient focus to the risk of money laundering and criminal associations, which are inherent in the operation of a large casino with an international customer base.”
ASIC’s case includes claims against members of the Star Board between 2017 to 2019, being John O Neill (former Chair), Matthias Bekier (former Managing Director and CEO), Kathleen Lahey, Richard Sheppard, Gerard Bradley, Sally Pitkin, Benjamin Heap and Zlatko Todorcevski.
ASIC alleges the Board members approved the expansion of Star’s relationship with certain individuals with reported criminal links, rather than addressing money laundering risk by inquiring into whether Star should be dealing with them. ASIC also alleges that Board members, when provided with information about money laundering risks affecting Star, did not take steps to make further enquiries of management about those critical risks and that this was a breach of their director duty obligations.
ASIC further alleges that Mr Bekier and Star executives Paula Martin (former Company Secretary and Group General Counsel) and Greg Hawkins (former Chief Casino Officer) breached their duties by:
- not adequately addressing the money laundering risks that arose from dealing with Asian gambling junket Suncity and its funder, as well as continuing to deal with them despite becoming aware of reports of criminal links; and
- not appropriately escalating money laundering issues to the Board.
As to Ms Martin and Harry Theodore (former Chief Financial Officer), ASIC also alleges they knowingly permitted misleading statements being provided to National Australia Bank (NAB) regarding the use of debit cards issued by China Union Pay International Ltd (CUP) at NAB ATMs located on Star’s premises. Those statements disguised the fact that Star was permitting CUP cards to be used for gambling, which was prohibited by CUP. ASIC is aware over $900 million was obtained by Star customers using CUP cards in NAB ATMs from 2013 to 2019. ASIC also alleges that they, and Mr Bekier, failed to report these matters to Star’s Board.
ASIC Chair Joe Longo said the role of directors was critical to a company’s general standing and performance, including how a company deals with significant issues.
“As I’ve said on many occasions, directors and officers are a critical part of the conduct of business in Australia. Their duty is to understand the operations of the company over which they preside, and the particular risks faced by the business. They are required to bring an inquiring mind to business operations. It is not ‘set and forget.’”
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Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
Esports entertainment company BLAST has announced plans to host two popular esports events in Singapore in 2024 and 2025.
BLAST will bring both world-class Counter-Strike and Dota 2 tournaments to the heart of Southeast Asia, marking a major step in Singapore’s emergence as an esports and gaming hub. Supported by the Singapore Tourism Board (STB), these high-profile events will bring the world’s best esports teams and players from all across the world to compete in Singapore.
BLAST has teamed up with AEG Presents Asia, one of the world’s largest live entertainment entities to bring these events to Singapore. The partnership forms part of BLAST’s ambition to create the best esports experiences by working closely with premier destinations and the biggest and best live entertainment partners.
More than half of global esports views (57%) are estimated to come from the Asia Pacific region, 47% more than any other region in the world with the global market valued at $1.6 billion.
By bringing the top-tier Counter-Strike and Dota 2 tournaments to Singapore, BLAST aims
to attract global esports talent, foster local growth, and elevate Singapore’s status as a destination for world-class esports entertainment.
James Woollard, Director of Market Development at BLAST, said: “We are incredibly excited to bring two of the biggest esports titles to this vibrant destination. Over the coming 18 months, Singapore will become a major hub for esports in Southeast Asia, and with the support of the Singapore Tourism Board, we look forward to delivering unforgettable experiences for fans while helping to build a thriving esports ecosystem in the region. Bringing the first BLAST arena event to Singapore is an exciting first step in this journey. The World Final will see the world’s best Counter-Strike players and teams fighting for a $1,000,000 total prize pool.”
Ms Ong Ling Lee, Executive Director, Sports and Wellness, Singapore Tourism Board, said, “We are excited to host the BLAST Premier World Final and the BLAST Dota Slam in Singapore. The Counter-Strike event marks the first BLAST-branded event in Southeast Asia and the inaugural Counter-Strike tournament series in the region, solidifying Singapore’s position as a world-class esports destination. We are confident that the international participants and their legions of fans will have a memorable experience in Singapore, immersing themselves in the diverse and dynamic offerings of our city.”
The World Final 2024 will take place from 30th October – 3rd November and will be the first BLAST event to take place in Singapore, followed by the BLAST Dota Slam in 2025. The World Final will be the biggest Counter-Strike event to take place in Singapore, where the world’s best eight Counter-Strike teams will compete for a massive prize pool of $1,000,000 and the chance to claim bragging rights as the best team around.
Qualified World Final teams: NAVI, Team Spirit, Team Vitality, FaZe Clan and G2 Esports.
Fans can sign-up for the pre-sale window by registering with BLAST.tv, where they will also receive updates and information on tickets.
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