Entertainment <\/p>\n
Greg Hawkins<\/strong>, the ex-chief casino officer at Star Entertainment<\/strong>, has settled with the Australian Securities and Investments Commission<\/strong> (ASIC) regarding alleged misconduct involving Macau <\/strong>junket operators linked to organized crime. This development marks the second such settlement in recent months, as the ongoing saga<\/a> surrounding Star Entertainment seems to be nearing its end.<\/p>\n ASIC charged Hawkins with breaching his directors\u2019 duties in 2018 and 2019<\/strong> by signing a contract with a Macau junket despite earlier alerts of suspicious behavior <\/strong>and failing to act on escalating concerns regarding the criminal ties Alvin Chau<\/strong>, founder of Suncity<\/strong>, before Star granted the group an AUD30 million<\/strong> ($19.05 million) credit facility increase.<\/p>\n According to ASIC, Hawkins also neglected his responsibilities in reducing money laundering<\/strong> risks relating to junket operations at Star Sydney. As part of the settlement, Hawkins must pay a fine of AUD180,000<\/strong> ($114,330) and accept an 18-month ban from managing companies listed on the Australian Securities Exchange <\/strong>(ASX).\u00a0<\/p>\n While Hawkins could have been fined up to AUD1.3 million <\/strong>($830,000), ASIC accepted a lower penalty as part of the settlement. He will also contribute toward a portion of ASIC\u2019s legal costs<\/strong>. Hawkins, who departed Star in 2020, has been acting chief operating officer at Bloomberry Resorts and Hotels<\/strong> in the Philippines <\/strong>since the December 2024 retirement of Thomas Arasi.<\/p>\n Hawkins is the second former Star executive to settle with ASIC after former CFO Harry Theodore<\/strong> agreed to pay AUD60,000<\/strong> ($38,113) in fines and serve a nine-month ban<\/strong> from ASX-listed company management. ASIC\u2019s legal action against former executives<\/a> and directors of Star follows broader government investigations in New South Wales<\/strong> (NSW) and Queensland<\/strong>, which exposed regulatory breaches at the casino operator.<\/p>\n While ASIC continues its scrutiny against former Star officials, the company\u2019s NSW division, The Star Sydney Properties, announced an AUD60 million<\/strong> ($38,11 million) sale of event spaces to Foundation Theatres<\/strong>. Star Entertainment expects to close the deal by 28 February 2025<\/strong>, using the funds to settle some of its debts and improve its perilous position<\/a>.<\/p>\n Despite these high-profile settlements, ASIC\u2019s legal actions against Star Entertainment continue, signaling that Australia\u2019s regulatory crackdown on the casino sector is far from over<\/strong>. The regulator\u2019s actions send a clear message<\/strong> that all members of a company\u2019s leadership team could be held accountable<\/strong>, as board-level inaction on compliance risks could still result in personal liability.<\/p>\n<\/p><\/div>\nHawkins Escaped a Significantly Steeper Fine<\/strong><\/h2>\n
Star Entertainment Remains in a Perilous Position<\/strong><\/h2>\n