Ex-Star Executive Greg Hawkins Reaches Settlement with ASIC

Greg Hawkins, the ex-chief casino officer at Star Entertainment, has settled with the Australian Securities and Investments Commission (ASIC) regarding alleged misconduct involving Macau junket operators linked to organized crime. This development marks the second such settlement in recent months, as the ongoing saga surrounding Star Entertainment seems to be nearing its end.

Hawkins Escaped a Significantly Steeper Fine

ASIC charged Hawkins with breaching his directors’ duties in 2018 and 2019 by signing a contract with a Macau junket despite earlier alerts of suspicious behavior and failing to act on escalating concerns regarding the criminal ties Alvin Chau, founder of Suncity, before Star granted the group an AUD30 million ($19.05 million) credit facility increase.

According to ASIC, Hawkins also neglected his responsibilities in reducing money laundering risks relating to junket operations at Star Sydney. As part of the settlement, Hawkins must pay a fine of AUD180,000 ($114,330) and accept an 18-month ban from managing companies listed on the Australian Securities Exchange (ASX). 

While Hawkins could have been fined up to AUD1.3 million ($830,000), ASIC accepted a lower penalty as part of the settlement. He will also contribute toward a portion of ASIC’s legal costs. Hawkins, who departed Star in 2020, has been acting chief operating officer at Bloomberry Resorts and Hotels in the Philippines since the December 2024 retirement of Thomas Arasi.

Star Entertainment Remains in a Perilous Position

Hawkins is the second former Star executive to settle with ASIC after former CFO Harry Theodore agreed to pay AUD60,000 ($38,113) in fines and serve a nine-month ban from ASX-listed company management. ASIC’s legal action against former executives and directors of Star follows broader government investigations in New South Wales (NSW) and Queensland, which exposed regulatory breaches at the casino operator.

While ASIC continues its scrutiny against former Star officials, the company’s NSW division, The Star Sydney Properties, announced an AUD60 million ($38,11 million) sale of event spaces to Foundation Theatres. Star Entertainment expects to close the deal by 28 February 2025, using the funds to settle some of its debts and improve its perilous position.

Despite these high-profile settlements, ASIC’s legal actions against Star Entertainment continue, signaling that Australia’s regulatory crackdown on the casino sector is far from over. The regulator’s actions send a clear message that all members of a company’s leadership team could be held accountable, as board-level inaction on compliance risks could still result in personal liability.